ING finances the “Aurum” office building in Munich
ING Wholesale Banking and M&G Real Estate have closed another financing of €33.6m (40% LTV) for the modern office building “Aurum” in Munich. The property with 13,768sqm is located in the Radlkoferstraße next to Theresienhoehe.
The property was recently upgraded through an extensive refurbishment and is fully let to a diversified tenant base. This transaction represents the third financing provided from ING to the subject fund in Germany and therewith further strengthens the close relationship between ING and M&G Real Estate.
“This is our fifth deal closed and disbursed in 2019, marking a very dynamic year so far,” says Michele Monterosso, Head of Real Estate Finance, ING Wholesale Banking Germany.