Hypo closes on $120m lifestyle center loan.Hypo Real Estate The Hypo Real Estate Holding AG (ISIN: DE0008027707) is based in Munich, Germany and comprises three banks:
The borrowers of this deal were Metropolis Perm I LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Metropolis II Construction LLC. The sponsor of this deal was Premier Properties USA, Inc. This is the first time Hypo Real Estate Capital Corporation has worked with Premier Properties. The $120.9 million loan consists of a $95 million fixed rate senior loan that will be securitized and a $25.9 million floating rate loan that will be retained by HRECC. Proceeds from the senior loan will be used to refinance existing debt for the 505,185 square foot lifestyle retail center anchored by JC Penney, Dick's Sporting Goods Dick's Sporting Goods (NYSE: DKS) is the largest full-line sporting goods retailer in the world. It is headquartered in Pittsburgh, Pennsylvania, USA and has locations in thirty-four states with 314 stores. and Barnes and Noble. The balance of the loan will be used to refinance existing debt and fund tenant improvements for an additional 92,457 square feet of retail and office space. "Premier Properties is one of the leading developers of lifestyle retail centers in the country and, as always, we welcome the opportunity to work with companies of this caliber," said Evan F. Denner, deputy CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Hypo Real Estate Capital Corporation. |
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