Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, has provided a ca €240-million (SEK 2.25 billion) investment financing to PG Svenske Boliger AB, a vehicle set up by Danish based Property Group A/S. The transaction was completed on March 28 2007.
The financing has been provided to facilitate the acquisition of a residential portfolio in Sweden. The portfolio consists of 63 properties including circa 4,500 residential units.
Commenting, Harin Thaker, CEO Europe of Hypo Real Estate Bank International AG, said, "I am delighted to expand on our relationship with Danish based Property Group A/S. We have again proved that we can deliver a large financing facility to meet our clients timing and structural requirements."
Commenting, Jesper Damborg, CEO Property Group A/S said, "We selected Hypo Real Estate Bank International because its strong commitment to the Nordic region and its ability to provide flexible financing solutions. Most importantly, this facility allowed us to move quickly to take advantage of a strong investment opportunity."
Source: Hypo Real Estate