Hamburg Commercial Bank refinances EUR 100 million real estate portfolio for alstria office REIT-AG
Hamburg, October 4, 2023 - Hamburg Commercial Bank AG (HCOB) is refinancing a portfolio of eight properties for the listed real estate company alstria office REIT-AG in the amount of EUR 100 million with a term of five years. The office buildings with a total area of just over 66,700 square meters are located in the top 7 cities of Hamburg, Berlin, Stuttgart and Düsseldorf and are leased on a medium to long-term basis.
“We are very pleased to realize this transaction with our long-standing client alstria office REIT-AG. The Hamburg-based company has a high level of expertise and has demonstrated for many years how to successfully develop real estate,” said Peter Axmann, Head of Real Estate Clients at Hamburg Commercial Bank. “The deal proves that we are able to support our customers with financing even in challenging times for the real estate industry.”
“With Hamburg Commercial Bank, we have an experienced and flexible financing partner in this transaction who knows the German real estate market very well. We are pleased to work together again,” said Olivier Elamine, CEO of alstria office REIT-AG. “The eight buildings are located in four top 7 German cities and offer excellent space for which we have reliable tenants. We are convinced that the portfolio has further development potential.”
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