Banks provide EUR 320m financing to Leipziger Platz project

German developer High Gain House Investments (HGHI) has received a EUR 320 mln financing facility from a consortium of banks led by DG Hyp for the construction of a EUR 450 mln mixed-use complex on Berlin's Leipziger Platz. The banking syndicate includes lenders Helaba, UniCredit Bank, and Eurohypo.

HGHI has recently started the development of the five-storey scheme which will offer a gross floor area of 152,000 m². The development project will include a mall with 200 shops, a hotel, apartments and some office space with 800 parking spaces. The project is expected to complete in the fall of 2013.

HGHI completed the acquisition of the site from Orco Property Group in February this year for roughly EUR 119 mln.