Deutsche Hypo finances the Metropolitan building in Warsaw
Deutsche Hypothekenbank is financing the purchase of the “Metropolitan” office and retails building in Warsaw as the sole lender. The financing volume amounts to €133.4 million. The borrower is a special fund managed by RREEF Spezial Invest GmbH.
The tenants of the property include big names from the financial, real-estate and corporate consultancy sectors. Designed by the renowned architect Sir Norman Foster and built in 2003, the “Metropolitan” is regarded as an icon on Warsaw’s property market. With around 38,000 sqm of rentable space, the glass building stands at the heart of the capital on one of Warsaw’s most significant public squares, the “Plac Pilsudskiego”, only a few minutes’ walk from the presidential palace. Also close by are the Warsaw National Opera and the Ulica Nowy Swiat, part of the historical Warsaw Royal Way.
“By financing the ‘Metropolitan’, Deutsche Hypo has set a sign on the Polish market. We have added one of the most important properties in the centre of Warsaw to our financing portfolio,” explained Andreas Pohl, Speaker of the Board of Managing Directors of Deutsche Hypo. Since March 2014, Deutsche Hypo is present of the Polish market with a representative office. “We have set the ground for our business in the Polish market and are negotiating further interesting deals. With development rates above the European average, the Polish market has a high growth potential in the field of commercial real estate finance.”