Deutsche Hypo has provided a €48 mln loan to fund the expansion of the Salzach shopping centre in Burghausen, Southern Germany.
Deutsche Hypo has provided a €48 mln loan to fund the expansion of the Salzach shopping centre in Burghausen, Southern Germany.
The borrower is EKZ Burghausen, which is controlled by investors Wegner & Schoofs, Taurus Investment Holding and ST Bau Holding. Deutsche Hypo is the sole arranger and lender of the financing.
The owners plan to extend the scheme by around 7,000 m2 bringing the total area to 21,140 m2 consisting of around 50 shops and restaurants as well as 400 parking spaces. The project is expected to be completed in the spring of 2014.
'The centre is located in a very economically strong region,' said Andreas Pohl, management board member of Deutsche Hypo. 'The high demand for the rental space demonstrates the good prospects for the future of the shopping centre.'
