The German lender Helaba Landesbank Hessen-Thüringen has arranged funding for the British-based Boultbee Group for refinancing of the commercial properties "Punkt" and "Gallerien" in Västeras, as well as "S:t Per" in Uppsala, with a total volume of SEK 975 m (90 mln.). The properties, used predominantly for retail business and with a usable space of 70,000 m², are located in the prime shopping areas of Västeras and Uppsala.
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S:t Per in Uppsala is one of the properties being refinanced by Helaba.
The Boultbee Group specializes in the purchase and management of commercial real estate in Great Britain and Scandinavia. Currently, its portfolio comprises real estate with a value of around 1.5 billion. In total about 100 properties with a total value of more than 3 bln. in Sweden, Finland, Great Britain and Estonia are managed by European Fund Management Sweden (EFM), a wholly owned subsidiary of the Boultbee Group. Helaba acted in this transaction as Arranger and Sole Lender through the origination unit Real Estate Financing Northern and Central Europe.
The closing of the deal at the present time demonstrates Helaba's confidence in the Scandinavian real estate market and the long-term orientation of its lending in that region. Since the start of its activitites in 2006 Helaba has provided financings of more than 3 bln. in the relevant markets of Northern and Central Europe, specializing particularly in acquisition financing and structured financing for international investors and investment funds.
Source: Helaba
