Hypo Real Estate Bank International and Hypo Real Estate Bank have provided a EUR 124 mln facility to Babcock & Brown Group for the acquisition of a portfolio of six retail assets in Austria and Eastern Europe. The assets are part of a portfolio of 10 properties Babcock & Brown had initially agreed to acquire from Australian real estate developer MID Group, before agreeing to sell four of the assets on to Dawnay, Day Carpathian prior to closing.
Hypo Real Estate Bank International and Hypo Real Estate Bank have provided a EUR 124 mln facility to Babcock & Brown Group for the acquisition of a portfolio of six retail assets in Austria and Eastern Europe. The assets are part of a portfolio of 10 properties Babcock & Brown had initially agreed to acquire from Australian real estate developer MID Group, before agreeing to sell four of the assets on to Dawnay, Day Carpathian prior to closing.
The six assets being acquired by Babcock & Brown are located in Austria, Hungary and Slovenia and consist of supermarkets, retail warehouses and shopping centres. The global letting area for the properties is about 90,000 m2 and the properties are mainly let to major international brand retailers.
