International law firm Freshfields Bruckhaus Deringer has advised Blackstone on the €220 million refinancing of a portfolio of 29 properties located in France, Belgium, Spain, Germany and the Netherlands by Invista European Real Estate Trust SICAF, a company listed on the main market of the London Stock Exchange.

Commenting on the transaction, partner Michael Steele said: ‘We are very pleased to have worked alongside Blackstone on this highly significant and complex cross-border refinancing, which was achieved with an innovative refinancing structure, and resulted in bringing stability to the Invista capital structure. The transaction represents a significant milestone for the expansion of Blackstone's lending platform in Europe, and demonstrates Blackstone's credentials as an alternative provider of debt capital.’

The Freshfields team was jointly led by teams in London and Paris and included partner Michael Steele and new partner Jonathan Birks in London, Fabrice Grillo in Paris, Walter Jacob in Brussels, Jaime Rossi in Madrid, Timo Elsner in Frankfurt and Thijs Flokstra in Amsterdam.

This deal further demonstrates Freshfields’ credentials in advising financial investors on complex and multi-jurisdictional financing transactions.