Hypo Real Estate Bank International AG has announced that it has provided London & Regional Properties with an approx. €44 million (US$61 million) senior investment loan for the acquisition of the Ducat Place II office building in Moscow, Russia. The transaction closed on 8th December 2006.
Ducat Place II is a 10-story, 19,146 m² office tower let to tenants including Morgan Stanley, Motorola, DTZ and Visa. It has a two-level underground parking facility and architectural features include a four-level, glass-enclosed atrium with sky bridges connecting two separate buildings (a front 4 floor building and a back 10 floor building).
The property is located at the intersection of Tverskaya Street and the Garden Ring in the center of Moscow. Ducat Place II is near the US Embassy, Moscow's best hotels and restaurants, has excellent access to the rest of the city and is only a 3 min walk to the Mayakovskaya Metro station.
Commenting, Harin Thaker, CEO Europe of Hypo Real Estate Bank International AG, said: "We are pleased to have provided London & Regional Properties with the financing for this deal. It joins the growing list of prestige real estate transactions that we have executed in the region."
Commenting, David Geovanis, Managing Director of London & Regional Properties' Russian business, stated: "We view the Ducat Place- II financing as a landmark deal in the emerging Russian real estate investment market. We look forward to our continued successful cooperation with Hypo Real Estate Bank International."
Source: Hypo Real Estate