Frankfurt am Main – ING Wholesale Banking and M&G Real Estate have closed another financing of €33.6m (40% LTV) for the modern office building “Aurum” in Munich. The property with 13,768sqm is located in the Radlkoferstraße next to Theresienhoehe. The property was recently upgraded through an extensive refurbishment and is fully let to a diversified tenant base. This transaction represents the third financing provided from ING to the subject fund in Germany and therewith further strengthens the close relationship between ING and M&G Real Estate.
“This is our fifth deal closed and disbursed in 2019, marking a very dynamic year so far,” says Michele Monterosso, Head of Real Estate Finance, ING Wholesale Banking Germany.
About ING Wholesale Banking Germany
ING Wholesale Banking Germany comprises the corporate clients business of ING in Germany and is part of the ING Group’s worldwide Wholesale Banking network with offices in more than 40 countries. ING Wholesale Banking offers banking services for large, internationally operating corporate clients. In addition to traditional banking products such as Corporate Lending and Transaction Services, ING is a world leading name in structured & project financing concepts, complemented by capital market solutions. ING Wholesale Banking Germany has approximately 300 employees based in the headquarters Frankfurt am Main who were in charge of a credit volume of EUR 36 billion by the end of 2018.