Berlin Hyp has agreed over €80 mln in financing for a new high-rise residential and hotel scheme in Hamburg.
The three-year loan is being provided to ABG Group for a Courtyard by Marriott hotel and adjoining residential tower.
'We already know the ABG Group as a professional and reliable partner and are pleased to successfully support another project,' said Gero Bergmann, member of the board of management of Berlin Hyp.
The hotel will comprise 277 rooms and 75 underground parking places on a total rental area of around 7,700 m2, leased out under a long-term agreement.
The 17-storey residential block will comprise approximately 8,000 m2 in living space across 113 residential units and 95 parking spots.
Construction on the scheme in the St-Georg quarter is scheduled for completion in late 2018.
