German lender Berlin Hyp is financing the acquisition of a portfolio of 90 residential properties in Germany for €115 mln.
The loan will be provided over 12 years to Ravensberger Heimstättengesellschaft, a subsidiary of German landlord LEG Immobilien. The units are based in the East Westphalia region.
Ravensberger's total residential portfolio comprises 4,000 residential and commercial units in 20 locations with a total rental area of around 239,000 m2, of which 3,300 m2 is commercial space.
Eckhard Schultz, CFO of LEG Immobilien AG: ‘This financing once again underscores the strong and trusting cooperation between Berlin Hyp and LEG.’
‘We regard the composition of the residential portfolio of LEG Immobilien AG as convincing and are pleased to act as a financing partner for an acquisition once more,’ added Gero Bergmann, member of the Board of Management of Berlin Hyp.
