HSH Nordbank finances EuroCore office building in Munich
Hamburg/Kiel, June 24, 2014 - HSH Nordbank is providing a Maple Knoll Capital and a group of investors with portfolio finance of EUR 90 million for an office building in Munich's Allach district. The 60,000 sqm in office space is fully let.
The main tenant with just under 70 percent is T-Systems International GmbH, a Deutsche Telekom subsidiary. Other long-term tenants include MAN Truck & Bus AG as well as MAN Financial GmbH and MTU Aero Engines.
The Allach district, which is in the northwest of the city of Munich, is characterised by industry and commerce. MAN and MTU have had production facilities in this district for many decades. The office building to be financed is in a standalone location with flexible divisibility and has very good technical facilities
Maple Knoll Capital, a London-based private equity investor and advisor with a primary focus on value-add and opportunistic real estate, will assume the asset management. They have deep experience sourcing, executing and managing compelling risk-adjusted investments for their partners and their clients. The company has been involved as a principal or advisor in transactions with an aggregate transaction volume over € 20.0 bn, with nearly €15 bn focused on real estate across multiple geographies.
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