Münchener Hypothekenbank has provided € 20.7m in financing for the acquisition of Square 41, an office building in Frankfurt. The fully leased project was bought by an open-ended property fund managed by Amundi Real Estate, which was formed when Crédit Agricole and Société Générale merged their real estate investment management operations. The property was refurbished over the past two years and covers 7,000 sqm of office space.
“We are pleased to partner this financing deal which allows us to strengthen our relationship with Amundi RE and once again enables them to acquire a very attractive property,” said Bernhard Heinlein, a member of Münchener Hypothekenbank’s management board.
