Specialist office investor CA Immo and German lender HypoVereinsbank have agreed new financing of €115 mln with a term of five years at a 4% interest rate for a prime office building in Munich.
The prime office building Kontorhaus in Munich's Arnulfpark near the main railway station was developed by CA Immo and completed in 2015.
It is 97% let, anchored by two blue chip US technology companies and has DGNB Gold sustainability certification and high energy efficiency. Based on this, the financing was structured as a 'green loan'.
Dr. Andreas Schillhofer, chief financial officer of CA Immo said: 'We are delighted with this vote of confidence in a market environment that is currently extremely challenging, especially for new real estate financing.
'The conclusion of this large-volume financing agreement confirms our strategic approach of consistently focusing on stable, conservative financing ratios and concentrating our portfolio on high-quality, sustainable prime assets in top locations. This creates trust among tenants, shareholders and also our financing partners.'
Dr. Christian Federspieler, head of real estate Germany at HypoVereinsbank added: 'We have been working together with CA Immo on a basis of trust for many years and are delighted to be able to provide a green loan to finance the Kontorhaus in Munich.
'We will continue to provide financing for stable, well-positioned companies and buildings in prime inner-city locations and of high quality and support the real estate sector on its way to a more sustainable future.'
