Berlin Hyp is making follow-up financing available to GSG Berlin. The financing package of about €404 million ($440.1 million), is being provided in the form of a club deal. A total of €258 million ($281.1 million) of this amount will remain on the books at Berlin Hyp; €146 million ($159.1 million) has already been placed with various savings banks.
GSG Berlin’s “Ganz Schön Gut” portfolio mainly comprises brick buildings from the Gründerzeit (so-called founders’ period) situated in attractive locations. Most of these buildings are in the Kreuzberg subdistrict of Berlin, with other properties located in the western and eastern parts of the German capital. The portfolio consists of 27 commercial courtyard complexes with a total rental area of roughly 590,000 square meters (6.4 million square feet). These are multifunctional spaces that can be used as offices, production facilities or warehouses. They are let mainly to small- and medium-sized skilled trades firms
