Hypo Real Estate Bank International has agreed to provide development financing to a 50/50 joint venture between Multi Development and UK retailer Tesco. The facility is for the construction of the Forum Liberec shopping mall in the city centre of Liberec, Czech Republic. The transaction was completed on 18 January 2008.
Hypo Real Estate Bank International has agreed to provide development financing to a 50/50 joint venture between Multi Development and UK retailer Tesco. The facility is for the construction of the Forum Liberec shopping mall in the city centre of Liberec, Czech Republic. The transaction was completed on 18 January 2008.
Forum Liberec is to be developed in two phases with the Tesco hypermarket providing the anchor tenant. Phase 1 is scheduled to open in spring 2009 with phase 2 in autumn 2010. Liberec, with a population of 150,000, is located approximately 100 km northeast of Prague and 25 km from the German and the Polish borders.
