Dentons and Garrigues on €90M Helios loan

Dentons has advised Hanover Investments, a subsidiary of Inmark Prime, a Spanish Socimi whose main shareholder is South Korean financial services firm Kiwoom Securities, on a refinancing facility of up to €90 million granted by Izilend Gestión España, the alternative lending platform managed by FS Capital. Garrigues advised Izilend on the transaction.

The underlying asset is Helios, an office complex located in the Campo de las Naciones district of northeast Madrid and the sole asset in Hanover Investments’ portfolio. Completed in 2019 and Leed Platinum certified, Helios comprises two buildings with a combined surface area of approximately 35,000 square metres. The complex is let to tenants including ING Bank, which houses its Spanish headquarters at the site, as well as Spaces and Moeve, with full occupancy expected by the end of 2026. The asset is managed by Rivoli Asset Management and was designed by Fenwick Iribarren Architects; its facilities include terraces, a restaurant, changing rooms and green areas.

Helios is located in one of the business districts in northeastern Madrid, near Campo de las Naciones, IFEMA Madrid and the airport. The building was designed by Fenwick Iribarren Architects and holds Leed Platinum certification, the highest level under the international sustainability standard. Its facilities include terraces, a restaurant, changing rooms and green areas.

Legal advisors

The Dentons team was led by banking and finance partner Jabier Badiola, with support from associate Mar Sánchez-Contador.

At Garrigues, the finance team was led by partner Xabier Urtiaga and senior associate José Manuel Simón, while the real estate side of the deal was handled by Jorge Juan García-Pellicer. The administrative aspects were covered by Juan Manuel Cabeza and Amalia Hernández, with Daniel Muñoz Almazán advising on tax matters.

Picured above: Xabier Urtiaga, José Manuel Simón

Pictured below: Jabier Badiola, Mar Sánchez-Contador