MünchenerHyp underwrites Monument Building loan

Münchener Hypothekenbank eG has financed the Monument Building, located at 11 Monument Street in London.

The bank was mandated by the Global Real Estate group of Credit Suisse Asset Management to provide the financing for an investment vehicle limited to Swiss investors.

MünchenerHyp acts as sole underwriter for the financing at the end of 2017. The loan-to-value ratio of the financing is 57 percent. Almost half of the loan was syndicated to LBBW with MünchenerHyp acting as the agent for this transaction.

The Monument Building is a 9-storey office building that was completed in 2016 and is situated next to The Monument located in the centre of London. In addition to high-quality Class-A office space, the building also offers space for two shops on the ground floor. The Monument Building meets the highest environmental standards and has a BREEAM rating of “Excellent”.

“We are very pleased to have been given this mandate to finance this highly modern, BREEAM certified office building in the heart of London. It is an excellent fit to our strategy of further growth in the international markets,” said Dr. Jan Peter Annecke, MünchenerHyp’s Head of Commercial Real Estate Finance.

Rafael Scholz, the Head of Treasury at MünchenerHyp, adds, “The building’s high environmental standards make the Monument Building ideally suited for MünchenerHyp’s ESG Pfandbrief Programme.” This programme is consistent with Green Bond Principles and used by MünchenerHyp to finance properties that meet high environmental and sustainability criteria.

MünchenerHyp finances commercially used properties in Germany, France, Spain, the Netherlands, Belgium, Luxembourg, Great Britain, and the USA.