GSW secures acquisition credit line

Listed Berlin residential company GSW Immobilien has greed a revolving acquisition credit line with Landesbank Berlin (LBB).

GSW said the €80 mln facility was secured 'on attractive terms'.

The Euribor-based money market loan will allow the company to purchase residential properties via asset or share deals, and is secured by an existing property portfolio.

'External growth through additional acquisitions is also planned for the future. Active finance management is therefore increasingly important to keep borrowing costs as low as possible and to simultaneously guarantee high flexibility for financing new investments', said Andreas Segal, chief financial officer of GSW.