Listed German investor DIC Asset has refinanced a 鈧�320 mln loan with two banks, thereby securing around 80% of the company鈥檚 2014 refinancing volume.
Listed German investor DIC Asset has refinanced a 鈧�320 mln loan with two banks, thereby securing around 80% of the company鈥檚 2014 refinancing volume.
The seven-year loan was arranged with Deutsche Pfandbriefbank and HSH Nordbank more than a year ahead of maturity. It will be used to refinance the company鈥檚 largest proprietary portfolio. The credit line sets the average interest rate for DIC Asset鈥檚 debt at around 4%.
The portfolio to be refinanced was acquired in 2006, and consists of around 40 office and commercial properties in good to excellent locations and a gross lettable area of around 240,000 m2.
DIC Asset said it has also renewed the lease on 20,000 m2 of office space at the Europarc Dreilinden park near Berlin to online-auction and trading company eBay which will use it as its German headquarters.
The lease agreement ranks among the top three leases signed this year in the Berlin office market.
The tenant was advised by Jones LangLaSalle.
