German property lender Berlin Hyp has teamed up with Austrian-based Erste Bank to finance Atrium European Real Estate’s EUR 191 mln purchase of the Palác Flóra shopping centre in Prague.
German property lender Berlin Hyp has teamed up with Austrian-based Erste Bank to finance Atrium European Real Estate’s EUR 191 mln purchase of the Palác Flóra shopping centre in Prague.
The two institutions are providing Atrium with a EUR 115 mln facility to run over 10 years.
Atrium bought the Palác Flóra from AFI Europe and Avestus Capital Partners (formerly Quinlan Private) in a deal which marks the largest real estate transaction in Prague this year.
Berlin Hyp is part of the Real Estate Finance Business Division of Landesbank Berlin. The bank was ranked third in PropertyEU's list of top German property financiers in 2010. The bank reported EUR 6.7 bn in terms of loan production last year, up 36% compared to 2009.
