Mubadala Investment Company is; The Abu Dhabi Sovereign Investment Company is a major investor in the fund.
STARS expects an additional round of investment to increase the fund’s capital by €300 million (about $326.9 million), which reflects their confidence in the fund’s ability to maximize a range of new and diversified opportunities.
The Fund’s strategy includes a wide range of targeted real estate lending and investment opportunities across Europe, including wraparound, prime, mezzanine and bridge financing, rescue financing or preferred equity financing for refurbishment and redevelopment.
The Fund will also support acquisitions of distressed debt and non-performing loans, and the acquisition of real estate securities, which include real estate investment funds, mortgage-backed securities funds, and other fixed-income real estate securities.
This “fund” is the second project between “Stars” and “Mubadala”, as “Mubadala” has been providing the main investment for the “Stars Zenith Capital Limited” fund since December 2021.
The Stars Zenith Capital Limited fund will issue mid-market business loans, ranging between €15 million and €100 million, with about €500 million already raised.
David Arzi, CEO of Starz Properties, said: “As market developments and movements continue, this fund is well positioned to provide flexible, tailored and timely solutions to meet the ever-changing needs of real estate investors and developers, based on our strong track record and what has been an important period of Business growth.
For her part, Khadija Benzet, Head of Europe at the real estate platform at Mubadala, said: “Mubadala is pleased to expand its partnership with Stars Properties, as we continue to increase our alternative investments, including investment in the private credit sector, to achieve stable financial returns. In light of the market environment Currently, the private debt sector is playing a greater role in supporting major real estate companies, and we look forward to supporting the Fund across Europe.”
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