Berlin Hyp, Deutsche Hypo – NORD/LB Real Estate Finance, Natixis CIB and Société Générale refinance the 'Hoog Catharijne' shopping centre in Utrecht for Klépierre with a Green[...]

An international consortium consisting of Berlin Hyp, Deutsche Hypo - NORD/LB Real Estate Finance, Natixis CIB and Société Générale is providing a Green Loan of € 260 million for the "Hoog Catharijne" shopping centre to Klépierre Group. Berlin Hyp is the Facility and Security Agent, Natixis CIB is acting as Green Loan Coordinator and Société Générale as Hedging Coordinator.

The loan is structured as a Green Loan. This also reflects Klépierre's strong commitment to ESG principles. Klépierre is the second largest listed owner and manager of shopping centres in Europe.

The strategic location between Utrecht city centre and the busiest railway station in the Netherlands ensures high customer frequency. With more than 30 million footfall a year, the "Hoog Catharijne" shopping centre is the most visited shopping centre within the country. It has been extensively renovated and modernised. On more than 100,000 square metres, 125 shops and around 30 restaurants offer visitors a high quality experience. An extensive calendar of events adds to the centre's appeal.

"Retail remains an important pillar of revitalized city centres. Prime locations and innovative concepts and a strong ESG commitment are important to keep shopping malls attractive beside the existing online retail offer. We are delighted to support Klepierre in a major, highly structured mortgage facility against a landmark property in a particular context where the company is looking to diversify its sources of funding" says Benjamin Cartier-Bresson, Berlin Hyp, on behalf of the consortium of banks.

"We would like to thank the consortium of banks for their trust and the good cooperation in this international financing. We are convinced that bricks-and-mortar retail has a key role to play in vibrant urban city centres. In order to meet contemporary requirements, we have remodeled the centre in recent years and continuously adapted the concept," says Guy de Villenaut, Head of Financing, Treasury and Tax, Klépierre.

Dentons acted as legal advisor to the banking consortium in this financing. The borrower was accompanied by Loyens & Loeff on the legal side and Van Lanschot Kempen on the advisory side.

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