DekaBank has arranged an acquisition loan to Next Estate Income Fund II in order to purchase an office building in Munich. The fund is managed by BNP Paribas REIM.
The office building, which is known as the H20, is located in the Moosach area. It comprises a newly-built office building extending to 19,805 m² over 6 upper floors and is almost fully let. The loan amount was €41m on a floating rate basis for a 6 year term. DekaBank was the sole arranger, sole lender and hedging provider.
Amar Latif, in charge of the German real estate lending activities at DekaBank said: “This financing builds upon our existing relationship with BNP Paribas REIM to provide a conservatively geared financing against a newly built and well-let property in one of Munich’s core office markets.”
