mast image

Special Report

Impact investing

Sections

BVK behind €600m financing deal for Berlin mall

Related images

  • landscape Berlin

Related Categories

Bayerische Versorgungskammer (BVK) is providing a €450m finance facility on a retail asset in Berlin.

The €60bn pension fund said it had financed the development of the 80,000sqm Mall of Berlin in Leipziger Platz as part of a consortium. The 270 unit mall is due to open next month.

The consortium also included Deutsche Hypo, which has contributed €80m, as well as two BNP Paribas Real Estate Investment Management Germany credit funds contributing the remaining €70m. BNP Paribas bought iii-Investments from Germany’s HypoVereinsbank, a subsidiary of Italy’s UniCredit Group, late last year.

A BVK spokeswoman confirmed the fund’s role in the co-financing was part of a cooperation signed between the Versorgungswerk and Deutsche Hypo last year.

<

“But this cooperation agreement is of course not exclusive – which means in future we will issue loans both as part of a consortium as well as for large projects on our own,” she added.

So far, the Versorgungswerk has financed several major transactions and projects, including the Silberturm and Tower 185.

BVK confirmed there are new projects in the pipeline, some in the residential sector, not as yet part of the fund’s credit portfolio.

“We will in future put more focus on the residential sector when it comes to financing projects,” the spokeswoman said.

Asked whether the fund would consider financing a residential project in Frankfurt planned by Corpus Sireo, BVK said it currently has “too little information” on the project. Corpus Sireo, recently sold to Swiss Life, is seeking investors for the high-rise scheme.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<