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.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.