Deutsche Pfandbriefbank has provided a EUR 65 mln medium-term facility for the refinancing of the Atlantic Haus office building in Hamburg. The building is owned by UBS Wealth Management - Global Property Fund. Shaftesbury Asset Management Group, acting as asset manager for Atlantic Haus, advised on the refinancing and the original acquisition.
Deutsche Pfandbriefbank has provided a EUR 65 mln medium-term facility for the refinancing of the Atlantic Haus office building in Hamburg. The building is owned by UBS Wealth Management - Global Property Fund. Shaftesbury Asset Management Group, acting as asset manager for Atlantic Haus, advised on the refinancing and the original acquisition.
The transaction was signed on 15 September 2009.
Atlantic Haus is a prime office building located in Hamburg's 'Neue Hafenkrone' development in the St Pauli district. It consists of a 21-storey tower and three 8-storey wings and was completed in March 2007. The property provides a total of 32,466 m2 of office space and 415 parking units and is 85%-let to tenants with strong covenants.
This is the second transaction of new debt provided by Deutsche Pfandbriefbank (formerly Hypo Real Estate) to the UBS fund. The first was the EUR 40 mln investment financing facility of the Altstadt Palais prime office building in Munich last July.
