Hypo Real Estate Bank AG has granted a credit line of €200 million to REIT Asset Management GmbH. The facility agreements were closed on March 31, 2006. The credit line serves to finance the acquisition of a mixed commercial real estate portfolio.
REIT Asset Management GmbH intends to buy properties throughout Germany during the coming months, focussing on commercial real estate in inner-city locations. The company has already acquired 22 properties - primarily in North-Rhine Westphalia.
"The German real estate market continues to be of great interest to internationally active investors. With the special customized design of this transaction, Hypo Real Estate Bank AG has once again demonstrated its capacity to support international investors on the German market, says Frank Lamby, Spokesman of the Management Board of Hypo Real Estate Bank AG.
Source: Hypo Real Estate