Hypo Real Estate Bank said on Tuesday it has agreed to underwrite EUR 91mln of a EUR 106mln loan facility provided by Morgan Stanley to Curzon Capital Partners for the financing of the Oakwood portfolio. The transaction was closed on 11 June and has since been funded, Hypo Real Estate said.
Hypo Real Estate Bank said on Tuesday it has agreed to underwrite EUR 91mln of a EUR 106mln loan facility provided by Morgan Stanley to Curzon Capital Partners for the financing of the Oakwood portfolio. The transaction was closed on 11 June and has since been funded, Hypo Real Estate said.
The Oakwood portfolio comprises 18 properties in central locations mainly in Baden-Wurttemberg and North Rhine-Westphalia. The total usable area of all the properties is around 120,000 m2. Tenants include companies like Ceva Logistic, Verizon Deutschland, Deutsche Post Immobilien, Edeka and the state Baden-Wurttemberg.
Separately, Hypo Real Estate Bank said it has signed a EUR 24.4mln senior financing facility for Swedish company AB Sagax' acquisition of the Gambro building in Hechingen, Germany. The property is let to Gambro on a 15-year triple net lease.
Commenting on the transaction, CEO David Mindus of Sagax said: 'The senior facility will enable Sagax to increase its return on equity and to facilitate further growth.'
