German lender Berlin Hyp is providing a five-year refinancing loan of around €48 mln to asset manager Signature Capital.
The loan is secured by an office property in Berlin, built in 1993. The complex is situated on the waterfront, on the Salzufer in Berlin-Charlottenburg, and comprises two individual buildings, one with seven and one with 11 storeys. It provides 15,000 m2 of total space which is expected to increase to around 17,300 m2 after an extension of two additional storeys, due to complete before the end of the year.
The largest tenants are Luxoft GmbH, Bundesanstalt für Immobilienaufgaben (Institute for Federal Real Estate) and AXA insurance.
