Hypo Real Estate said it has provided a senior loan of EUR 500mln for the Whitehall funds acquisition in 2007 of a mixed-use portfolio in Germany from Degi, the real estate investment arm of German insurer Allianz. The financing for the assets, worth some EUR 2.45bn, was arranged and syndicated by Credit Suisse and Goldman Sachs. The transaction was completed by Hypo Real Estate Bank on 31 March 2008.
Hypo Real Estate said it has provided a senior loan of EUR 500mln for the Whitehall funds acquisition in 2007 of a mixed-use portfolio in Germany from Degi, the real estate investment arm of German insurer Allianz. The financing for the assets, worth some EUR 2.45bn, was arranged and syndicated by Credit Suisse and Goldman Sachs. The transaction was completed by Hypo Real Estate Bank on 31 March 2008.
The portfolio comprises 36 properties in central locations, mostly in Germany. The total useable area of the portfolio is around 800,000 m2, of which 76% is for offices. The main tenants include the Allianz Group, Deutsche Bahn and German pension fund Rentenversicherung.
Frank Lamby, member of the management board of Hypo RE, said: 'We are pleased that we have been able to participate in a considerable portion of the financing for this attractive portfolio with prime partners, and have thus been able to demonstrate the viability of our group even in these difficult times.'
