Hornbach Retail
Transaction Size: €48M
Hornbach Retail
Restructuring of €48M mortgage debt across three Hornbach-leased retail properties in Berlin, Nuremberg, and Potsdam.
Relevant information
Transaction Size: €48M
Location
Germany
Year
2012
Restructured the mortgage debt secured by three retail assets.
Negotiated with senior and junior lenders to execute a private sale of all assets to the sponsors for €34.55M.
• Senior debt managed by Capita Asset Services (special servicer)
• Junior loan negotiated with The Co-operative Financial Services
• Achieved full restructuring and recovery through sale execution
Key Takeaways
• Transaction Size: €48M
• Deal Closed: March 2012
• Lenders: Capita Asset Services & The Co-operative Financial Services
Transforming Real Estate for a Resilient Future
Discover how our conviction-led approach delivers sustainable value in a changing world.
Related
Partner Testimonials
Trusted by institutional investors and advisors across Europe.
"Working with Anacott was a game-changer. They didn't just facilitate a deal; they helped us craft the best deal we have ever done in Europe. Their expertise and dedication are second to none."
General Partner
Lloyd Chambers
"Anacott achieved what no one else could — raising capital for an illiquid asset and securing the full spectrum of capital that made Outernet a reality, from development and operating capital to venture and term facilities. James Lapushner is an exceptional talent."
General Partner
Outernet St Giles
"Anacott delivered the most competitive 10-year, interest-only financing for our complex operating business — a result no other firm could match."
General Partner
Bourne Capital
"Anacott was our best partner in Europe and turned Lloyds Chambers into our standout European deal."
General Partner
Lloyds Chambers
Frequently Asked Questions
Common questions from capital partners and transaction professionals.
What is the “Powered Land Thesis”?
Powered Land & Onsite Energy Solutions: We identify and secure strategically located land parcels suited for industrial, data center, and renewable energy projects. All sites are vetted for accessibility, zoning, and long-term development potential.
What returns can investors expect?
Historically, we have delivered an average post-tax IRR of ~20% and achieved 2x return on equity across our projects. Our average hold period is around 4 years, from acquisition and repositioning to exit.
What type of investments does Anacott focus on?
We specialize in contrarian real estate and special situations — acquiring assets where others see risk, repositioning them, and generating sustainable long-term value.
What differentiates Anacott from traditional real estate investors?
Conviction. While most investors follow the crowd, we identify value in overlooked assets, execute full-cycle management, and leverage 25+ years of expertise.
Who are your typical capital partners?
Our partners are primarily institutional investors, including hedge funds and other sophisticated capital providers who can evaluate complex opportunities without bias.
Where does Anacott invest?
We invest across Europe, with a focus on the UK and Germany.
How large is your team?
Efficiency is our competitive edge. Anacott runs a lean core of senior principals and analysts and scales with specialist partners when needed. This structure shortens decision cycles and has delivered £20B+ of transactions and award‑winning results.