Eurohypo arranges EUR 250m financing for Ruhr mall

German lenders Eurohypo and Deutsche Pfandbriefbank have provided EUR 250 mln financing for the purchase of the Ruhr-Park shopping centre by financial services provider Perella Weinberg.

Eurohypo acted as the mandated arranger, agent and security agent in the transaction.

Eurohypo said that Ruhr-Park in Bochum is one of the biggest and best-established shopping centres in Germany.

Backed by the EUR 250 mln in financing , Ruhr-Park's new owner Perella Weinberg Real Estate Fund will initially inject around EUR 80 mln into revitalising the shopping centre that first opened in 1964. Management für immobilien (Mfi) is taking over the restructuring as well as the centre and letting management of Ruhr-Park with effect from October.

Ruhr-Park comprises a lettable area of over 120,000 m². There are 140 shops, including Media Markt, Kaufland, H&M, C&A and Karstadt. The centre attracts 45,000 to 50,000 customers on average each day.

'This financing shows that Eurohypo remains a financier of major real estate transactions, working closely with its target customers in the process,' chairman of the management board of Eurohypo, Dr Frank Pörschke, said. 'It is also proof that the German real estate market has evidently bottomed out and that, slowly but surely, larger projects are also becoming more popular again.'