Lender HSH Nordbank has seen the share of cross-border deals in its ‘new business’ portfolio nearly double this year as Germany continues to be in strong demand among international investors, according to Michael Windoffer, head of cross-border business at HSH Nordbank.
Lender HSH Nordbank has seen the share of cross-border deals in its ‘new business’ portfolio nearly double this year as Germany continues to be in strong demand among international investors, according to Michael Windoffer, head of cross-border business at HSH Nordbank.
'New cross-border business has grown from around 20% last year to represent around one third of our new business portfolio, which amounted to €2.9 bn in total so far this year,’ Windoffer told PropertyEU. The group is targeting €3.6 bn of new business in full-year 2015, he added.
Asians represent a major share of new international investment coming into Germany, he noted.
HSH Nordbank is only permitted to finance properties in its home market as part of conditions set by the EU for a state bailout in 2009. ‘We are looking to wind down our non-strategic real estate loan portfolio outside of Germany, which amounts to around €6 bn of assets,' said Windoffer.
