BayernLB (Bayerische Landesbank) is pleased to announce the completion of the refinancing of the F.O.C. Outlet Centre GmbH in Soltau, a total investment of €80 million. The transaction closed on June 28, 2013.
The loan is structured as an initial investment facility with additional facilities which can be drawn down following the completion of the letting of additional units at the center.
The Designer Outlet Centre at Soltau is located midway between Hamburg and Hannover, adjacent to the A7 Autobahn. It was developed by the Mutschler Gruppe and opened for trading on August 30, 2012. It provides approximately 65 shops with a gross lettable area of 13,500 m² and over 1,200 car parking spaces.
Mike Worley, Head of Real Estate Finance, BayernLB London Branch added: "We are very pleased to have provided the loan facility for this Outlet Centre which was developed by the Mutschler Gruppe and is managed by ROS – Retail Outlet Shopping, Austria. Soltau is in an excellent location with exciting future potential as a result of the extension plans.”