Verelst Group successfully raises 4 Million Euro of Mezzanine debt to finance its real estate development activity.
Common Ground Corporate Finance successfully raises 4 Million Euro of Mezzanine debt to finance the residential real estate development activity of the Verelst Group, named Verelst Projectontwikkeling.
The Verelst Group is a long existing Belgian based Group active both as Contractor and Real Estate Project Developer. As a Contractor, the Verelst Group executes a large range of construction types from start to finish with a team of dedicated professionals. The residential real estate Project Development segment of the Group was established in 2015, focusing on sustainable real estate Project Developments. It benefits from experienced developers and the long-standing construction expertise of the Group itself. Between 2015 and 2018, the real estate portfolio was progressively built up towards the current portfolio amounting to 70 Million Euro.
Common Ground Corporate Finance closed the financing round with the Belgian insurer Integrale.
Mr. Michael Van Beersel, Head of Verelst Projectontwikkeling and Mr. Maarten Van Breusegem, CFO of Verelst Group say: “The financial strength gained through this financing round offers us the opportunity to envisage the future of our real estate development division with a lot of confidence. With Integrale as a financing partner, we now have an active and supportive investor on board, contributing substantially to our current pipeline of projects and supporting our further development.”
Mr. Julien Dessart, CFO of Integrale (specialized in occupational and private pensions) says “We have been approached to support this exciting real estate development project. Both the expertise of the team involved and the long-standing reputation of the Verelst Group have led us to conclude that this was the right project to support and finance. We have been impressed by the quality of the projects and we are proud to be part of it. We’d like to thank Common Ground for introducing Integrale to this transaction”.