HSH Nordbank finances large real-estate portfolio for BGP

More than 4,400 units Heavily diversified

, August 14, 2007 - HSH Nordbank AG has provided finance for the purchase of a residential property portfolio by BGP, the joint venture between the Babcock & Brown Group and the GPT Group, within the context of a share deal. The size of the finance deal is € 120 million.

Most of the properties in the portfolio are located in Berlin and the Rhine-Ruhr area. They comprise 4,300 residential units with total floor space of 260,000 square meters plus 150 commercial units with total floor space of 16,700 square meters. The buyers view the portfolio as a long-term investment, but they do not rule out the sale of individual units.


“The portfolio is heavily diversified, thereby broadly spreading the rental risks“, said Claudio Lagemann, Head of the Real Estate Business Unit of HSH Nordbank. “Babcock & Brown is an experienced and successful investor in residential real estate with proven expertise in managing residential properties.“ HSH Nordbank had been doing business with the Babcock & Brown group of companies since 2003. Since then the Bank has financed the purchase of several residential portfolios on behalf of companies within the Group.


HSH Nordbank AG is a strong regional bank in Northern Europe with total assets of € 200 billion. Some 4,400 of the bank’s employees provide corporate and high net-worth clients around the globe with premium bank products and services. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment. HSH Nordbank is an acknowledged partner of the capital markets and international sector specialist. Its main focus is on transportation and real estate. In fact, HSH Nordbank is the world’s largest provider of ship finance and covers the entire value chain in the transportation segment. In the area of real estate, HSH Nordbank is one of the strongest banks in Germany, acting as a provider of services relating to all aspects of real estate. For more information please visit our website at www.hsh-nordbank.com.

The information contained in this press release does not constitute an offer for the sale of any type of Hamburg Commercial Bank AG securities. Securities of Hamburg Commercial Bank AG may not be sold in the United States without registration pursuant to US securities legislation, unless such a sale takes place on the basis of relevant exceptional provisions.

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