Schroder European Real Estate Investment Trust PLC has completed two new debt facilities in Germany with Deutsche Pfandbrief Bank for a total of €30.5 m and at a blended fixed rate of 1.10 percent. The first loan of €16.5m is for a term of 10 years and is secured against two retail assets acquired earlier in the year in Berlin and Frankfurt. The loan is interest only and represents a loan to value ratio of of approximately 46 percent, with a fixed rate of interest of 1.31 percent. The second loan for €14m is secured against two office buildings owned in Stuttgart and Hamburg with an LTV of approximately 48 percent. This loan is also interest only, but has a term of seven years and a fixed rate of interest of 0.85 percent.
