HSH Nordbank, the Hamburg-based bank focused on transportation and real estate, is providing a EUR 32 mln loan to German retail property company GWB Immobilien for the acquisition of the Konigspassage shopping centre in the northern German city of Lubeck. The 15,000 m[sup]2[/sup] shopping centre was opened in 1994 and has been managed up to now by ECE Projektmanagement. The purchase of the mall, involving an undisclosed sum, was announced by GWB last month.
HSH Nordbank, the Hamburg-based bank focused on transportation and real estate, is providing a EUR 32 mln loan to German retail property company GWB Immobilien for the acquisition of the Konigspassage shopping centre in the northern German city of Lubeck. The 15,000 m2 shopping centre was opened in 1994 and has been managed up to now by ECE Projektmanagement. The purchase of the mall, involving an undisclosed sum, was announced by GWB last month.
GWB was established in 1992 and has been listed since October 2006. The company develops, builds and leases retail space. It has completed 50 projects so far and in addition to selling completed properties, it is working on accumulating a property portfolio of its own.