(COPENHAGEN) – Hines, the international real estate firm, has secured a large debt financing package on behalf of The Trinity Quarter, its landmark hotel and retail redevelopment in the heart of Copenhagen, Denmark. The debt facility which represents in excess of DKK 1 billion was secured with leading Northern European financial services group, Nordea, with Catella Corporate Finance acting on behalf of Hines.
Hines acquired the Universitets Passagen buildings on behalf of the Hines European Value Fund (HEVF) in 2018 and announced plans for the redevelopment in January 2019. Recently, Hines unveiled details of its plan to create a new quarter for shopping and relaxation at the northern end of Købmagergade retaining and restoring historic buildings with their heritage features showcased. The name of the mixed-use redevelopment reflects its location adjacent to the historic Trinitatis church. In addition to transforming the retail offering, the redevelopment will feature a 243-room 25hours hotel designed by celebrated interior designer Martin Brudnizki, and will be the brand’s first hotel in Scandinavia.
The Trinity Quarter is set to complete in 2021, with the hotel opening in Q1 2022.
James Robson, Senior Managing Director and country head for Hines in The Nordics, said: “We are proud of this new relationship with Nordea, as it was important for us to partner with a Nordic bank, underlining our commitment to maintaining strong links in the region.
“This financing represents a resonant endorsement of the project and allows us to progress our plans with pace and confidence. Despite the current uncertainty in the world we are fully committed to this landmark redevelopment and are proud to be playing a part in the long-term future of Copenhagen as a leading international destination.”
Manuela Scheibe, Head of debt advisory Nordic for Catella, said: “We are pleased to have had the opportunity to extend our strong relationship with Hines through the procurement of financing, but also contribute to new relationships with strong partners, enabling Hines’ further growth in the Nordic region.”
For further details on The Trinity Quarter visit www.thetrinityquarter.com.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 205 cities in 24 countries. Hines has approximately $133.3 billion of assets under management, including $71 billion for which Hines serves as an investment manager, including non-real estate assets, and $62.3 billion for which Hines provides third-party property-level services. The firm has 165 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,393 properties, totalling 459 million square feet. The firm’s current property and asset management portfolio includes 539 properties, representing over 232 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 49 cities in 11 countries, with €20.9 billion of assets under management in Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.
Visit www.hines.com for more information.