Aareal Bank is making a loan totalling €160 million available to finance the Kamppi Center in the heart of Helsinki. The complex of buildings is located directly adjacent to the main train station and includes an underground railway station and car park in addition to seven floors of retail, office and residential space. This links the Kamppi Center directly to Helsinki´s main public transport and travel hub.
The loan by Aareal Bank is earmarked for the financing of the nearly 33,000 square meters of retail space. It is the property bank´s largest deal to date in Finland. The Kamppi Center is scheduled to be completed in spring 2006.
'Scandinavia has become one of Aareal Bank´s core markets. It is characterised by high liquidity and transparency regarding portfolio transactions and large single transactions. Already for several years Aareal Bank has been the leading international property bank in Denmark and Sweden. In Finland we will expand our activities further. The syndication market is well developed', says Dr. Ralph Hill, member of the Management Board of Aareal Bank AG. 'This is a perfect fit with our Buy & Sell Strategy: Our Scandinavian loans are well received in the syndication market.'
Source: Aareal Bank
