DG Hyp refinances properties held by IVG funds

German financier DG Hyp has provided EUR 118.2 mln in medium-term refinancing for five properties held by three open-ended funds managed by IVG Institutional Funds. The three funds are the Europe Fund OIK, EURIM and EPFUND-OIK.

Four of the properties financed by DG Hyp are retail properties in Sweden, the fifth is an office building in Finland.

For the Europe Fund OIK, DG Hyp will provide financing for two retail properties located close to the Stockholm metropolitan area. The two properties - a retail park with a total floor space of around 25,000 m² and an outlet centre measuring with around 13,000 m² - are on the same plot of around 132,000 m2, located close to a motorway. The two buildings were constructed between 1998 and 2001.

Länna Retail Park, held by the open-ended EURIM real estate fund, is another Swedish retail property financed by DG Hyp. The property is located
close to a motorway in the south of the Stockholm metropolitan area. The total plot of 90,000 m² comprises two developments built between 1999 and
2002, which were recently modernised. The lettable area of Länna Retail Park is around 33,800 m2, and includes 880 car parking spaces.

DG Hyp has refinanced two properties for the EPFUND-OIK: one retail property in Sweden and an office building in Finland. Väla Retail Park, located in the Öresund region, consists of two single-floor retail properties with an aggregate lettable area of 25,000 m². The buildings were constructed in 1995
and 1998, respectively, and extended in 2005. Polaris Business Park is located in Espoo, Finland, within the Helsinki metropolitan area. The development comprises five identical buildings. DG Hyp has refinanced one of them, Capella, a modern office building completed in 2009 with a total lettable area of around 6,000 m².