Hypo Real Estate Bank has announced the successful completion of a EUR 181.6 mln financing package for Thalassa Holdings, mainly to fund its acquisition of a listed Cypriot real estate company. Thalassa Holdings is a joint venture between RREEF, a real estate investment subsidiary of Deutsche Bank’s asset management division, and the Lanitis Group, one of the oldest business groups in Cyprus.
Hypo Real Estate Bank has announced the successful completion of a EUR 181.6 mln financing package for Thalassa Holdings, mainly to fund its acquisition of a listed Cypriot real estate company. Thalassa Holdings is a joint venture between RREEF, a real estate investment subsidiary of Deutsche Bank’s asset management division, and the Lanitis Group, one of the oldest business groups in Cyprus.
In addition to funding the acquisition of shares in Lanitis Deevelopment, the funds will be used to refinance Thalassa’s existing debt and to provide continuing support for its ongoing residential development business.
