A German bank consortium led by DG Hyp has provided a €89 mln loan to the owners of the Aquis Plaza shopping centre in Aachen which is due to open in autumn 2015.
A German bank consortium led by DG Hyp has provided a €89 mln loan to the owners of the Aquis Plaza shopping centre in Aachen which is due to open in autumn 2015.
The other lenders in the consortium are Aachener Bank and VR-Bank Bonn. In addition, insurer R+V Lebensversicherung has provided a €75 mln loan, bringing the total credit facility for the scheme to €164 mln.
The loan was provided to KG Grundstücksgesellschaft Farmsen m.b.H & Co, an investment vehicle owned by the Otto family together with institutional and private investors.
The centre was developed by ECE and Strabag Real Estate and is currently under construction with completion due in autumn 2015. The centre will also be operated by ECE.
The Aquis Plaza shopping centre provides 29,200 m2 of retail space spread over 130 units. The scheme also houses a food court and parking garage as well as office and residential space.
