German lender Berlin Hyp has provided €510 mln in financing to GSG, a landlord of commercial property in Berlin.
The seven-year loan is to refinance a bank consortium facility for 41 commercial properties in the German capital. The portfolio comprises 770,000 m2 of rental space and 5,600 parking spaces.
The bulk of the assets are in Berlin's Kreuzberg district and there are additional properties in the western part of the city as well as in the eastern Berlin districts of Marzahn, Pankow and
Hohenschönhausen. The properties are multifunctional rental spaces that can be used as office, warehouse or production facilities.
Most of the spaces are rented to small and medium-sized workshops and commercial enterprises, as well as to start-ups. The largest tenants include Technische Universität Berlin, the radio station Deutsche Welle, Fraunhofer Gesellschaft e.V. and the co-working space provider Ahoy Berlin.
'We are always particularly pleased to have the opportunity to be active in Berlin,' said Gero Bergmann (pictured), board member at Berlin Hyp. 'Furthermore, the project concerns a highly complex, individual financing transaction for a professional customer that we were able to provide in line with the customer’s wishes and the stipulated requirements in just four months.'
