Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, announces that it has provided a €42.0 million senior financing facility and a €3.4 million VAT facility to Grupo GMR, for the refinancing of the Barrio Art Decó leisure center in Madrid, Spain. The transaction completed on 21st May 2007.
The recently refurbished Barrio Art Decó is a 35,895-m² leisure center located in a residential area, close to the Manzanares river and within 1 km from the Royal Palace, the Almudena Cathedral and the Plaza de España.
Commenting, Harin Thaker, CEO Europe Hypo Real Estate Bank International AG, said, "We are delighted to be able to support a second transaction for Group GMR in the past six months and to be able to support their acquisition plans."
Source: Hypo Real Estate