German lender Berlin Hyp has joined forces with three savings banks to finance the construction of a new residential complex for B&L Gruppe.
Berlin Hyp, in a club deal with the Taunus-Sparkasse, Sparkasse Göttingen and Sparkasse Oberhessen savings banks, is providing a total loan amount of €230 mln to Main Square GmbH & Co. KG, a company of B&L Gruppe, to build the multi-family residential complex complete with townhouses and two high-rise towers.
The savings banks are participating in the financing with a total of €90 mln, with Berlin Hyp as the syndicate leader.
The complex will include a total of 288 owner occupied apartments with approximately 25,200 m2 of residential space and 245 underground car parking spaces directly on the Main River, in the immediate vicinity of the European Central Bank.
Completion is scheduled for 2023.