HSH Nordbank is making available approx. €82 mln for the pro-rated refinancing of the acquisition and comprehensive refurbishment of a shopping centre in Wiesbaden to Orion European Real Estate Fund IV advised by Orion Capital Managers. The shopping centre was acquired in December 2014 without third party financing.
The “Lilien-Carré" shopping centre was opened in the “Südost” borough in 2007 and has a total of approx. 36,000 m² of lettable space on seven floors. 27,000 m² is leased to retailers, including anchor tenants Rewe, Saturn and Toys "R" Us.
The "Motel One" chain operates a 186-bed hotel, a further 3,200 m² is used as office space and there is parking for 1,200 cars in multi-storey and underground car parks. The shopping centre is managed by "Acrest Property Group", which is project managing the upgrade of the centre.
Source: HSH Nordbank