Record Financing Deal for Kintyre
Frankfurt-based real estate group Kintyre has successfully closed its largest financing to date and one of the largest development financings in the entire German market in 2023 with an amount in the triple-digit millions.
Frankfurt, 12 September 2023
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wo German banks have shown their continued support for Berlin based regeneration projects through the extension of the existing debt facilities. An additional development finance loan supports the ongoing Märkisches Quartier urban regeneration scheme in Reinickendorf Berlin.
Märkisches Quartier aims to be transformed into a vivid urban center comprising 86,000+ sqm of retail, local supply, healthcare, office and urban living. Edeka will be the core supermarket tenant, surrounded by retail tenants and one of Europe’s largest market halls. It will have a central health center hub with more than 40 doctors, physiotherapists, pharmacists and a gym.
The financing completion is the second in as many months for the Kintyre Capital Advisory team, who also closed the EUR 69m refinance of the Bero Shopping center with Helaba in July.
Vivienne Körlin said: “With the current prevailing market conditions we are very pleased to be able to secure this financing for our client, and are thankful to our financing banks for their continued support. In the coming months and quarters, we appreciate that it will be very difficult for some real estate lenders, and we stand ready to support our current and future clients.”