Hypo Real Estate Bank International AG, a member of Hypo Real Estate Group, announces that it has provided US $45.5 million of combined construction, VAT and investment loan package to a Joint Venture formed by Brack Capital and Apollo Real Estate Advisors. The transaction was signed on 18.09.2007.
The facility has been made available for the development of an approx. 41,000 m² high-quality logistic complex in Lobnia, Moscow Region, Russia. The property is fully pre-let to a quality international tenant for a period of seven years.
Commenting, Harin Thaker, CEO Europe Hypo Real Estate Bank International, said: "Both Brack Capital and Apollo Real Estate Advisors are key global clients for us and we are delighted to provide them with a development and investment facility in Russia. This transaction continues our commitment to the Russian real estate market."
Commenting, Eyal Gutman, CEO Brack Capital Holdings, added: "We are pleased to work with Hypo Real Estate Bank's professional team in Russia and internationally. Hypo Real Estate Bank uniquely brings to the table a real understanding of our business and provides us with the support we look for, as an investor and developer."
Source: Hypo Real Estate