Real estate finance specialist Berlin Hyp has led on a syndicated loan for a property in Düsseldorf representing a three-figure million euro deal.
The German real estate lender cooperated with Stadt- und Kreissparkasse Erlangen Höchstadt
Herzogenaurach and Sparkasse Bochum on the ten year loan, provided to a special fund of HanseMerkur Grundvermögen.
Both savings banks participated with €15 mln each, using the S-Group product ImmoNachrang, which was especially designed for the Sparkassen-Finanzgruppe.
The loan will finance an office and commercial building in Düsseldorf. Built in 2001, this building will be completely renovated by 2021 under the project name 'Campus am Kunstpalast'.
The state of North RhineWestphalia is the sole tenant. The total rental area amounts to 21,200
m2.
The project is seeking to obtain BREEAM energy efficiency certification after the renovation has been completed.
