Private equity firm Carlyle Group has failed to reach an agreement with Landesbank Berlin (LBB) on the financing of the Linden Park project in Hannover, Germany.
Private equity firm Carlyle Group has failed to reach an agreement with Landesbank Berlin (LBB) on the financing of the Linden Park project in Hannover, Germany.
According to German newspapers, the bank has pulled the plug on the financing of the EUR 200 mln renovation of the scheme which was being carried out by the group's Carlyle Europe Real Estate Partners (Cerep) fund. The project, which includes a 30,000 m2 shopping center as well as office and residential space, was announced in October 2006 but construction work on the site stopped in January on the lack of financing.
