Tuesday 23, December 2008 by
NBAD signs MoU to provide mezzanine investments in European real estate
The joint venture, which will have a target size of $500 million (AED 1.84 billion) will focus on the UK and German markets. National Bank of Abu Dhabi and Evans Randall will seek to capitalise on the growing gap in the capital structure of property investments between senior debt and common equity. The joint venture will aim to pay annual cash returns between 8-12 per cent to investors with projected IRRs of 15-20 per cent.
