Hypo Real Estate Bank International announces today that it has acted as agent and arranger for a consortium of four banks to provide the Aviva Central European Property Fund with a financing facility of â¬240 million. The transaction closed on 15th July 2005.
The facility will be used, along with the funds equity, to purchase commercial property in the emerging markets of Central and Eastern Europe. The acquisition of the funds first three assets has also completed.
The Aviva Central European Property Fund is a Luxembourg-based closed-ended âfonds commun de placement (FCP)â, managed by Morley Fund Management and targeted at institutional investors.
King Sturge and SachsenFonds are joint asset managers.
Commenting, Harin Thaker, CEO Europe, said: âThis transaction demonstrates how our knowledge of the region and the structure of our European business platform work to deliver a facility for a client who requires a single facility for investment in a number of countries. We are looking forward to working with Aviva on financing a significant number of assets in the region.â
Source: Hypo Real Estate Bank International