AIM-listed German retail property investor Treveria has signed a 12-month loan extension to its EUR 216 mln securitised loan. The Silo D securitised debt facility (Deutsche Bank/Citigroup) with debt servicer Deutsche Bank was due to mature on 20 July 2011.

Treveria said both the company and the servicer were agreed during the negotiation process that the loan should be extended in order to deleverage it to a re-financeable loan-to-value ratio. However, the securitisation documents of one of the two lenders only provided for an extension of up to one year at a time.

Bernhard Fuhrmann, CEO of Treveria Asset Management, said: 'This one-year extension will enable Treveria to continue its strategy of maximising the value of the properties within Silo D with a targeted capital expenditure and asset management programme, in order to reduce leverage on the loan.

'This extension, in addition to the recently announced standstill agreement on Silo E, reflects the strong support we are receiving from our lenders and we look forward to continuing to work with them on our debt management programme.'