Hypo Real Estate Bank International has provided a EUR 280 mln financing facility for the Invesco European Hotel Real Estate fund. US-based Invesco Real Estate will use the facility for the acquisition of hotels across Europe in the budget hotel sector, Hypo Real Estate Bank International said. The transaction was completed on 24 April 2007.
Hypo Real Estate Bank International has provided a EUR 280 mln financing facility for the Invesco European Hotel Real Estate fund. US-based Invesco Real Estate will use the facility for the acquisition of hotels across Europe in the budget hotel sector, Hypo Real Estate Bank International said. The transaction was completed on 24 April 2007.
Invesco's European Hotel Real Estate Fund enables institutional investors to invest in both established real estate and emerging real estate asset classes. The fund is advised by Invesco Real Estate, whcih has more than EUR 5.4 bn of real estate assets under direct management in Europe.
At the beginning of May, Hypo Real Estate Bank and Intesa Sanpaolo announced they had jointly arranged two financing facilities, totalling EUR 726 mln, for Milano Santa Giulia Residenze, a special-purpose vehicle wholly controlled by Italian property company Risanamento. The financing is for the purchase and development of a luxury residential complex, designed by Norman Foster, within the new Milano Santa Giulia - one of Europe's largest mixed-use developments. The complex will offer 600 luxury residential units within a group of 13 multi-storey buildings arranged around a landscaped space with an exclusive sports club.
