DG Hyp and HSH Nordbank have refinanced two Summit Germany portfolios. The seven-year loans total €240mn at 2.35% interest and LTV ratios of 70% and 65%. DUKAP structured the transaction and procured funding for the Summit group.
The loans were initially to run until 2017. The larger portfolio (“Clara,” €152mn) holds 30 properties from Summit subsidiary and former Goldman Sachs company Deutsche Real Estate AG. The smaller portfolio comprises 54 properties. In total, the office, retail, and logistics properties have an area of 580,000 sqm.