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