Nuremberg: BF.direkt finances Gerch project “The Q”
BF.direkt is financing the Nuremberg city quarter project “The Q” with a bonded loan of €88mn. This guarantees the financing, developer Gerchgroup reports. The group had bought the former Quelle mail order distribution center in July, and signed a zoning agreement on the conditions of future utilization in August. According to the latest information provided by Gerchgroup CEO Mathias Düsterdick, investments in the development of the 250,000 sqm ensemble could total up to €1bn. Plans include 190,000 sqm GFA for apartments, up to 18,851 sqm for retail, and a 250-room hotel.
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