CORRECTED: HSH provides financing for Tristan-Freo deal in Cologne

German lender HSH Nordbank has provided €91 mln financing for the €110 mln acquisition of Barthonia Forum in the Ehrenfeld district of Cologne by a joint venture of Tristan Capital Partners and Freo Group. This story has been updated to remove an inaccurate estimation of the LTV ratio.

European Property Investors Special Opportunities 3, an opportunity fund managed by Tristan, and Freo, a German private equity company and fund manager, announced the acquisition of the Barthonia Forum earlier in May this year.

The urban quarter on the site where Eau de Cologne ‘4711’ was once produced comprises 12 individual buildings with a surface area of around 70,000 m2 of predominantly retail and residential use. Alongside various retail companies, the ‘Kaufland’ department store is an anchor tenant with more than 11,000 m2 in retail space.

Tristan Capital Partners is an independent, pan-European real estate investment manager that advises six funds with assets under management of more than €5 bn.

Freo is a private equity company and fund manager specialising in the acquisition and development of commercial properties in Germany. The company currently has around one million m2 of commercial space under management and will act as asset manager for the Barthonia Forum.

HSH Nordbank was advised by Taylor Wessing on the transaction.