DekaBank has arranged a loan on behalf of Hines Pan European Core Fund HECF to refinance the building “Caleido” in Stuttgart. DekaBank is the sole underwriter of the loan of EUR 41.5 million, which has a term of seven years.
The office, commercial and residential building with a total area of around 19,000 sqm, located in the city centre of Stuttgart, is almost completely let. With the refinancing of the "Caleido" property, DekaBank is further expanding its long-standing and successful cooperation with the US real estate group Hines.
DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group. Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 306 billion (as at 30/09/2019) and around 4.7 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany. It provides retail and institutional clients access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.