Deutsche Hypo, BayernLB grant EUR 145m loan to Mfi

German lenders Deutsche Hypothekenbank and BayernLB have provided a EUR 144.5 mln loan facility to local developer Mfi for the construction of the Mönchengladbach Arcaden shopping centre in North Rhine-Westphalia, Germany.

The scheme will provide some ??26,000 m² of net retail area over 110 shops and restaurants on completion in autumn 2014. Designed by architects Heine Planungsgesellschaft, the scheme will offer a total gross area of 70,000 m² and 550 parking spaces.

'Retail properties have established themselves as the dominant asset class for investors and financiers,' said Andreas Pohl, a member of the management board of Deutsche Hypothekenbank.