Helaba Landesbank Hessen-Thüringen is providing the Signa Property Funds Group with €50 million in funding for the acquisition of the office building Hotel Business Tower in Zagreb. The transaction, which was realized by the sales unit North and Central Europe, represents Helaba's first long-term real estate financing in Croatia.
With the Hotel Business Tower the SIGNA Property Funds Group has acquired a Class A property of around 28,000 m² in the center of Zagreb. It is let long-term to the Croatian subsidiary of Deutsche Telekom. Hotel Business Tower will be offered to private investors via the closed-end fund SIGNA 08 Zagreb.
For more than a decade, Helaba has pursued a successful internationalization strategy in real estate lending operations. In addition to the Bank's established markets in the USA, Great Britain and France, the target regions whose development is proactively pursued by Helaba are Central Europe and Scandinavia. Since the start of its activities in North and Central Europe in 2006, Helaba has provided financings of more than ¶1.5 billion, specializing particularly in acquisition financings and structured financings for international investors and investment funds.