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CORESTATE Bank arranges a financing for a residential development in Munich in the amount of EUR 21.5m

CORESTATE Bank has successfully advised a Munich based real estate company with regard to the acquisition of an approximately 27,000 m² development site in the city area of Munich. A total amount of EUR 21.5 m was arranged.
The property is part of a large-scale urban district development for which the first resolution of a land development plan is expected shortly.

The three-year financing covers both acquisition and development costs until a legally binding land development plan will be in place. The senior and junior tranches were arranged in the form of secured promissory note loans and bonds.

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