Lucy Scott
The financing issued by the Wiesbaden-headquartered lender will enable the owner to undertake extensive renovation work.
The Dutch bank found real estate bond issuance hit €19bn through mid-October, beyond the €15bn it expected for all of 2024.
The company says five-year lending rates saw a ‘material decrease’ as central banks’ easing cycle began during the third quarter.
The mood in the halls was upbeat but the ‘same challenges’ are weighing on recovery.
The manager says alternative debt providers are increasingly competitive against domestic lenders.
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The move keeps the country on course to reach a 2% policy rate by 2025 and strengthens expectations of further recovery in real estate transactions.
Record footfall and high occupancy across the estate’s retail and leisure is expected to help its owner tap up secured lenders.
China Life Insurance, one of the building’s sponsors, agreed to provide £192m of equity following a statement earlier this month it would not be able to do so.
Noteholders and lenders have voted to extend senior and mezzanine facilities, due to mature on 16 September, on seven office assets near the country’s two main cities