Hypo Real Estate Bank International, the international division of the largest German real estate finance group, is considering expanding its operations to the big cities in Romania, after granting the first financing in Bucharest.
"The Capital is the most important market in Romania for us, but we are also targeting other big cities in the country. Currently, our financing activities in Romania are managed through our London and Munich-based offices," Oliver Gruss, an official of Hypo Real Estate's communication department, told ZF.
In August, Hypo Real Estate Bank International granted a 15.2 million-euro loan to real estate investment company Equest Balkan Properties (EBP), in order for it to refinance several building acquisitions in Bucharest.
Through this five-year loan, EBP has secured debt financing for its Casa Mosilor, Jules Michelet, Domenii and Airport Smart assets.
Romania is an important market for Hypo Real Estate as part of the company's operations in Central and Eastern Europe, according to Gruss. "We are operating on the real estate financing segment, with a focus on retail projects, such as malls, office building and distribution parks," added the Hypo Real Estate representative.
Hypo Real Estate clients are real estate developers and investors, with a large part of them being international clients, with whom the group works throughout the whole of Central and Eastern Europe, added Gruss.
Hypo Real Estate merged with German bank Depfa in October, forming the largest financing and real estate investments company in Germany.
Depfa Bank is preparing to launch a subsidiary in Bucharest in February, which will be supervised by the Irish-based branch, after being registered by the NBR (National Bank of Romania) in the credit institutions registry. The bank is already operating on the segment of closed-end funds through DePfa Asset Management, a company which manages monetary investment fund DePfa Money Market with net assets worth 121,000 RON at the end of November.
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