Hypo Real Estate completes £31m financing for residential and retail development (UK/DE)

Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, announces that it has provided an approx. €43 million (£31 million) facility to a Joint Venture Vehicle held by BMB Property Investments Ltd, Vesty Estates and Lehman Brothers. The transaction closed on 13th February 2007.

The funding will be applied to develop a mixed used residential and retail scheme, with underground parking, in a riverside location in St. Mary, Market Harborough, Leicestershire. The scheme comprises 268 residential units and 265 parking spaces plus 28,000 ft² of retail space allocated in six blocks. The scheme, which is the largest in Market Harborough, is in an excellent location close to the town center.

Commenting, Harin Thaker, CEO Europe – Hypo Real Estate Bank International, said: "We are delighted to provide financing for this excellent residential & retail development scheme which highlights our commitment to providing capital for property developments within the UK."

Source: Hypo Real Estate

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