HSH Nordbank financing shopping mall portfolio for Morgan Stanley real estate fund

Banking, Finance — By on January 20, 2014 at 7:34 PM

Logo_HSH_kleiner Schutzraum

• Successful start to the year achieved by the Real Estate Clients division
with large-scale transaction for Morgan Stanley real estate
fund

HAMBURG/KIEL HSH Nordbank has entered the new year by providing Morgan Stanley Real Estate Fund Global VII, a closed-end real estate fund managed by investment bank Morgan Stanley, with finance of EUR 270 million for the purchase of four shopping malls in the Berlin and Dresden regions. The Bank is the sole underwriter and bookrunner for the
transaction and intends to syndicate the loan to a further two banks in the near future.

The four large shopping malls, which are situated in the metropolitan regions of Berlin and
Dresden, are the dominant retail centres at their respective locations. Built between 1992
and 1996, the malls have total retail space of around 214,000 square metres leased in full to
renowned anchor tenants as well as small and mid-size retailers on a long-term basis. Morgan
Stanley Real Estate Investing (MSREI) is Morgan Stanley’s global real estate investment
arm. Established at the beginning of the nineties, it has been one of the most active real
estate investors over the past two decades, having acquired assets worth over USD 187 billion
in 36 countries.

“We have in HSH a highly skilled finance partner which has been able to competently structure
and execute this complex large-volume transaction,” said Max Boeser, European Co-
Head of Finance at Morgan Stanley Real Estate.

Peter Axmann, Head of HSH Nordbank’s Real Estate Clients is convinced: “All of the shopping
malls have been operating for around 20 years and are very well established in the
market. This is reflected in the high frequency of visitors as well as the high occupancy rates
of the last few years. In addition, with their convenient locations and the experienced centre
and asset management, they are set to continue operating successfully in the future, underpinned
by ongoing enhancements to maintain their appeal.”

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