HSH Nordbank provides €130 mln to buy Karstadt store in Munich (DE)

HSH Nordbank will provide a joint venture vehicle owned by the European Property Investors Special Opportunities 3 L.P. (“EPISO 3 Fund”) advised by Tristan Capital Partners LLP of London and Signature Capital with finance totalling €130 mln to purchase a retail property. Signature Capital is involved as a minority co-investor and asset manager. The property is located near Munich’s Karlsplatz and all of it is currently leased to Karstadt Waren-haus GmbH.
The building consists of two wings, which are connected on the lower ground floor and from the first floor onwards. There is in excess of 90,000 m² of space on six floors.
The position between Karlsplatz (also known as “Stachus”) and the main train station is regarded as among the best retail locations in the city of Munich.The building also has four display window sides, among others facing the Schützen-strasse pedestrian zone. There is direct access to several stops of the public transport system; furthermore there are just over 500 parking spaces for visitors to the department store.
Source: HSH Nordbank