ING grants Testa Residencial acquisition finance loan

ING grants Testa Residencial a mortgage loan for an amount of approximately €130 million. The loan has a 7-year bullet maturity and an interest cost of approximately 1.6 percent, including 100 percent hedging.

The company aims to use the proceeds of the loan to finance future asset acquisitions, such as the acquisition of a portfolio of 1,458 apartments pursuant to the recent agreement entered into with BuildingCenter, the real estate subsidiary of CaixaBank, which is expected to close in the coming months.