DG HYP refinances properties held by open-ended real estate funds (DE)

DG HYP has provided medium-term refinancing for five properties held by three open-ended real-estate funds managed by IVG Institutional Funds GmbH: the "Europe Fund OIK", "EURIM" and "EPFUND-OIK".

The aggregate facility volume is €118.2 million, with a maximum term of three years. Four of the properties financed by DG HYP are retail properties in Sweden, the fifth is an office building in Finland.

Specifically, for the Europe Fund OIK, DG HYP will provide the financing for two retail properties located in close proximity to the Stockholm metropolitan area. The two properties – a retail park (with a total floor space of approx. 25,000 m²) and an outlet center (approx. 13,000 m²) – are on the same plot of approx. 132,000 m², conveniently located close to a motorway. The two well-maintained buildings were constructed between 1998 and 2001. A total of 1,050 car parking spaces are also available.

Länna Retail Park, held by the open-ended EURIM real estate fund, is another Swedish retail property financed by DG HYP. The property is located close to a motorway in the south of the Stockholm metropolitan area; the total plot of 90,000 m² comprises two developments built between 1999 and 2002, which were recently modernised. The lettable area of Länna Retail Park is approx. 33,800 m², and includes 880 car parking spaces.

DG HYP has refinanced two properties for the EPFUND-OIK: one retail property in Sweden and an office building in Finland. Väla Retail Park, located at 2 Helsingborg in Sweden's Öresund region, consists of two single-floor retail properties with an aggregate lettable area of 25,000 m². A total of 1,350 car parking spaces are also available. The buildings were constructed in 1995 and 1998, respectively, and extended in 2005. Featuring good traffic connections, Polaris Business Park is located in Espoo, Finland, within the Helsinki metropolitan area. The development comprises five identical buildings.

DG HYP has refinanced one of them: 'Capella' is a modern office building completed in 2009, with a total lettable area of approx. 6,000 m².

The closing of the financing transaction for properties in Sweden and Finland underscores DG HYP's competence as a financing partner in the Nordic region.

Source: DG HYP

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