German bank Berlin Hyp is providing a €115 million refinancing on a 239,000 sq m residential portfolio to LEG Immobilien AG subsidiary Ravensberger Heimstättengesellschaft.
The 12-year loan backs 90 properties in the East Westphalia region in Germany and includes more than 4,000 residential and commercial units.
Berlin Hyp’s real estate transaction volume reached €23.3 billion last year, an increase of 74 percent year-over-year and a new all-time high for the bank, according to its annual report. The report highlighted the “the high level of liquidity on the market and the extremely low interest rates in the Eurozone,” as well as the strong German commercial and residential real estate markets, as the key contributing factors to its success.
The bank has remained active this year with a string of notable recent loans. Last month Berlin Hyp provided a €125 million loan to Gramercy Property Europe to fund the acquisition of a mixed-use commercial property portfolio across the Netherlands, Germany and Poland; and the bank announced it had allocated more than €1 billion of loans backing sustainable properties as part of its ‘Green Pfandbrief’ aimed specifically at green-focused capital markets investors.
Berlin Hyp specialises in large-volume real estate finance for professional investors and housing societies. LEG Immobilien AG is a German property companies that has generated rental and lease income of around €645 million in 2015.