Germany's leading commercial property bank Hypo Real Estate Bank said on Tuesday that it is to provide EUR 241mln in financing for the Herkules portfolio. The portfolio was acquired by US private equity firm Oaktree from Germany's Deka Fonds in the summer of 2006.
Germany's leading commercial property bank Hypo Real Estate Bank said on Tuesday that it is to provide EUR 241mln in financing for the Herkules portfolio. The portfolio was acquired by US private equity firm Oaktree from Germany's Deka Fonds in the summer of 2006.
The transaction, which was completed on 31 July 2008, amounts to a total of EUR 900 mln which was financed by a consortium including Barclays Capital, Morgan Stanley and Société Générale. The portfolio consists of 47 prime properties in prime cities, most of which are located in Hesse and North Rhine-Westphalia. Most of the assets consist of office premises let to leading names in the banking industry.
