German banking group BayernLB has provided €72 mln in loan financing to a closed-end fund managed by investor Triuva for two office buildings, one in Hamburg and one in Frankfurt.
The fund, Westend Ottensen, initially acquired an office complex in Hamburg Ottensen for almost €44 mln, followed by an office building in Frankfurt for around €100 mln.
The financing reflects a loan-to-value ratio of 50%.
BayernLB said this is the first time it has provided financing to a structure created under Germany's new KAGB investment law rather than a traditional KG investment fund.
