Deutsche Hypothekenbank (Deutsche Hypo) has financed a portfolio of mainly retail properties located across regional France for shopping centre specialist Eurocommercial Properties France.
The German bank, which is an active lender in France, has written an €84 million loan for a term of 15 years and refinances existing debt secured by the properties.
The portfolio contains two shopping centres, plus a retail park and a mixed-use residential and commercial property.
The retail properties are located in the cities of Hyères on the French Riviera, Glisy in north-eastern France and Chasse-sur-Rhône near Lyon. They consist of 43 to 48 business units each, mainly occupied by national tenants.
The mixed-use complex is located in Grenoble in the foothills of the Alps. The commercial space includes offices, some shops and an IBIS hotel.
“France is the second largest shopping centre market in Europe whereby, in addition to Paris, the regional metropolises are also in great demand. All financed properties are located in large catchment areas and have already been part of the customer’s portfolio for many years,” said Sabine Barthauer, member of the board of managing directors of Deutsche Hypo.