HSH Nordbank finances conversion of police headquarters into office and business premises
“Dernsche Höfe” project development in Wiesbaden Investment volume of approx. EUR 70 million for Quantum Immobilien AG
Hamburg/Kiel, April 2, 2008 - HSH Nordbank is to finance Quantum Immobilien AG the “Dernsche Höfe” project development in Wiesbaden. The investment volume is approximately EUR 70 million. “Dernsche Höfe” covers an area of 4,000 square meters in downtown Wiesbaden. The premises include a listed building that was formerly used as police headquarters. This property, together with other buildings involving floor space of 14,300 square meters, is to be integrated in a planned new building complex, of which 9,200 square meters will be used as office space. The aim is to create a mixed-use building with retail outlets, restaurants and – on the upper floors – offices. A building permit is expected to be issued at the end of 2008 and the completion date is set for December 2010.
“The Dernsche Höfe project marks the continuation of our long-standing business relationship with the Quantum Immobilien Group. In our joint projects in the past the company proved to be a reliable and commercially sound partner with a very good track record”, says Peter Axmann, Deputy Head of Real Estate at HSH Nordbank AG.
HSH Nordbank AG is a strong regional bank in Northern Europe. Its total balance amounts to € 206 billion. Some 4,700 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.
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