Frankfurt: RFR takes over entire WestendGate
As part of a club financing, pbb Deutsche Pfandbriefbank as lead manager and HSH Nordbank are providing RFR Group with equal portions of a €200mn loan. The funds will be used for the refinancing of the hotel and office property “WestendGate”, of which RFR has owned half since 2012 and which the firm will now take over completely, as stated in a release. The other half used to belong to British investor Stenprop. The “WestendGate” with its 46 floors has roughly 35,000 sqm floor space used for a Marriott and Adagio hotel, as well as nearly 17,000 sqm office space.
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