Berlin Hyp is providing follow-up financing of approximately €404 million for the “Ganz Schön Gut” portfolio at GSG Berlin GmbH

Berlin Hyp is making follow-up financing available to GSG Berlin. The financing package in the amount of approximately €404 million is being provided in the form of a club deal. A total of €258 million of this amount will remain on the books at Berlin Hyp; €146 million has already been placed with various savings banks.

GSG Berlin’s “Ganz Schön Gut” portfolio mainly comprises very pleasant-looking brick buildings from the Gründerzeit (so-called founders' period) that are situated in attractive locations. Most of these buildings are to be found in the Kreuzberg sub-district of Berlin, with other properties located in the western part of the German capital, and in its eastern districts as well. The portfolio consists of 27 commercial courtyard complexes with a total rental area of roughly 590,000 square metres. These are multifunctional spaces that can be used as offices, production facilities or warehouses. They are currently let mainly to small and medium-sized skilled trades firms, workshops and commercial enterprises, as well as start-ups. However, the biggest tenants include Technische Universität Berlin, the Deutsche Welle radio broadcasting company and Fraunhofer Gesellschaft e.V.

Sustainability is extremely important to GSG Berlin. Among other things, the company focuses on efficiency improvements in building operations and the modernisation of building systems through the use of renewable and sustainable energy sources.

“Through its continuous investment in its stock of existing buildings, GSG Berlin is impressively demonstrating how even older buildings can be used and managed in a sustainable and cost-effective manner”, says Teresa Dreo-Tempsch, Member of the Board of Management of Berlin Hyp AG. “That’s why we’re proud to be continuing our long-standing and successful partnership with GSG Berlin, a partnership that is also supported by our S-Group partners.”

“Berlin Hyp is our long-standing and reliable partner – we work together to support small and medium-sized businesses in the German capital”, says Oliver Schlink, Commercial Director of GSG Berlin GmbH. “We’re pleased that this high-volume refinancing package will allow us to further strengthen our relationship with Berlin Hyp in these challenging times.”