Barings, one of the world’s largest diversified real estate investment managers, announced that it has provided a €240.3 million ($263.9 million) floating rate senior loan to Mikare Group, the German investment company, to finance the construction of a 45,000-square-meter (484,000-square-foot) mixed-use scheme in Berlin.
Sam Mellor, head of Europe & Asia-Pacific real estate debt, Barings, commented, “Residential demand in Berlin remains robust, underpinned by European-wide urbanisation trends. This newly built, high specification residential led, mixed use project will benefit from an attractive central location, being in close proximity to key landmarks, and, with views across Berlin, we expect it to attract interest from both German and international buyers. The significant pre-sales are evidence of the high demand for space at the scheme, a trend we are also seeing in the Berlin office market.”
Ben Silver, head of global real estate debt, Barings, adde
