Large-volume new financing concluded for Munich prime office building Kontorhaus in attractive inner-city location in a difficult market environment.
CA Immo and HypoVereinsbank have agreed new financing of €115m with a term of 5 years at an interest rate of around 4% for a prime office building in Munich. The prime office building Kontorhaus in Munich's Arnulfpark near the main railway station was developed by CA Immo and completed in 2015. It is 97% let, anchored by two blue chip US technology companies and has DGNB Gold sustainability certification and high energy efficiency. Based on this, the financing was structured as a "green loan".
Dr. Andreas Schillhofer, CFO of CA Immo: "We are delighted with this vote of confidence in a market environment that is currently extremely challenging, especially for new real estate financing. The conclusion of this large-volume financing agreement confirms our strategic approach of consistently focusing on stable, conservative financing ratios and concentrating our portfolio on high-quality, sustainable prime assets in top locations. This creates trust among tenants, shareholders, and also our financing partners."
Dr. Christian Federspieler, Head of Real Estate Germany at HypoVereinsbank: "We have been working together with CA Immo on a basis of trust for many years and are delighted to be able to provide a green loan to finance the Kontorhaus in Munich. We will continue to provide financing for stable, well-positioned companies and buildings in prime inner-city locations and of high quality and support the real estate sector on its way to a more sustainable future.”