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CORESTATE Bank arranges EUR 75 million financing for an office development in Munich, Germany

CORESTATE Bank has arranged the financing of an approximately 8,400 m² site in Munich for a joint venture of two successful real estate companies.

The financing comprises a volume of EUR 75 million and serves to pay the purchase price as well as the planning and development costs until the building permits for a this "landmark" property is obtained. A modern two-part quarter with approx. 34,000m² gross floor area for office use and medical facilities will be developed in consideration of all ESG aspects.

The 3.5-year financing was arranged in the form of a secured senior and a junior tranche.

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