Hamburg Commercial Bank finances additional fiber optic project for Primevest Capital Partners
- Fiber-optic network expansion for 15,600 private households in more rural areas around Frankfurt/Main and Bonn
- Funding under KfW's "Digital Infrastructure" program
Hambrg, October 17, 2022 - Hamburg Commercial Bank (HCOB) is providing long-term financing of EUR 21.5 million to the "Communication Infrastructure Fund" launched by Primevest Capital Partners (Primevest CP) for the expansion of fiber-optic infrastructure in more rural regions around the Frankfurt/Main and Bonn metropolitan areas. This is already the third financing that Hamburg Commercial Bank has provided for Primevest Capital Partners within a year.
The investment loan is funded under the German government's KfW (Kreditanstalt für Wiederaufbau) “Digital Infrastructure” program on behalf of the Federal Ministry for Digital and Transport (BMDV). It was launched to support the construction and expansion of the national fiber-optic network. As Primevest CP's principal bank in Germany, Hamburg Commercial Bank integrated the program for this financing. Under the project, the fiber-optic networks in Hesse and North Rhine-Westphalia will be further expanded and leased to interested Internet providers. Around 15,600 private households will be supplied with fiber-to-the-home (FTTH) connections.
"Primevest CP is a very experienced investor in digital infrastructure," said Inka Klinger, Head of Project Finance at Hamburg Commercial Bank. "Due to the very well-coordinated cooperation and a certain repeat character, we can competently and efficiently implement the transaction, which is very important for the still underserved fiber market in Germany."
Bas van Dongen, Partner Communications Infrastructure at Primevest Capital Partners, said: “We are happy that we can leverage on the strong relationship with Hamburg Commercial Bank. The expertise of HCOB combined with the funding under the KfW’s “Digital Infrastructure” program is important to further finance new investments in the industry. With our attractive pipeline of investments, we aim at continuing the good relationship and further contribute to the growing digital economy”.
About Primevest Capital Partners:
Primevest Capital Partners is a pan-European investment boutique specializing in investments in innovative real estate. Primevest Capital Partners aims to contribute to the sustainable financial future of our clients by investing in the future of our cities, providing sustainable living, increasing connectivity and promoting mobility. Our investment philosophy and sustainable goals are driven by the current trend of urbanization and the opportunity to meet the needs of modern urban communities while improving the quality of life and sustainability of metropolitan residents. From our offices in Utrecht, Eindhoven and Berlin, a team of 70 professionals manages €3 billion in assets, including sector-related funds, individual
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