BaseCamp Student, the vertically integrated developer, operator and investment advisor to the “European Student Housing Fund I & II” has secured a EUR 52mn senior mortgage facility with Helaba and Sparkasse Dortmund to support the development of the BaseCamp student property in the centre of Dortmund.
Upon completion, scheduled for the end of Q1 2021, the former Karstadt shopping complex at Kampstraße 1 will serve as a 450-apartment high quality student housing complex accompanied by high-street retail areas along with a café/restaurant on the roof which will be open to the public.
“We are glad to have accessed the German banking market again in support of our fast-growing student accommodation business in Germany” states Andreas Junius, Head of BaseCamp Germany.
Armon Bar-Tur, the Chief Executive Officer of BaseCamp continues, “The competitive facility agreed with Helaba and Sparkasse Dortmund underlines the quality of our project, part of our growing business in Germany where we now have 2 operational “BaseCamps” and a number of projects moving into construction phase. This growth is mirrored in our operations in Poland and Denmark”.
Oceans & Company exclusively acted as BaseCamp’s debt advisor while FPS advised legally. White & Case acted as legal advisor for the lenders.
Links
https://www.immobilienmanager.de/helaba-und-sparkasse-finanzieren-gemeinsam-in-dortmund/150/69691/
http://www.deal-magazin.com/news/83743/Helaba-und-Sparkasse-Dortmund-finanzieren-BaseCamp-Dortmund