DekaBank has provided a €41.4 million senior loan to finance Schroder Real Estate’s acquisition of a mixed-use hotel and office property in Berlin.
The 10-year facility will finance Schroder’s €100 million purchase of the Königstadt Carree at Berlin’s Alexanderplatz. The property was bought last December on behalf of an institutional investor partnership. The asset comprises a 21-storey tower with around 26,000 square metres of office space and an eight-story hotel.
The office tower is multi-let to tenants including Mercedes-Benz Bank on a long-term lease.
“With Schroders we have established a good relationship in 2015. We look forward to helping them further with their real estate strategy in Germany,” said Amar Latif, head of origination for German real estate at DekaBank.
“The Königstadt Carree offers a rare combination of high build quality, solid lease structure and an excellent micro and macro location,” Sascha Harms, head of real estate investment Germany at Schroder Real Estate said at the time of the purchase. “The acquisition of the Königstadt Carree is another important milestone for Schroder Real Estate, proving again our ability to secure extremely sought-after assets, which enabled us to secure this prime asset in one of Europe’s most targeted investment location.”