Catella publ : procures debt financing for Hines’ unique redevelopment project of a hotel and retail in central Copenhagen

Catella Corporate Finance acted as an exclusive financial advisor to the international real estate firm Hines, in relation to its unique redevelopment of the Trinity Quarter on Købmagergade, comprising of a landmark hotel, premium retail as well as housing - a total of approx. 21,000 sq.m.

The historic buildings on Copenhagen's Købmagergade, one of the city's main shopping streets, are being transformed into a mixed-use redevelopment of new retail and a 243-room landmark hotel by innovative hotel company 25hours hotels. The project will create a new quarter at the northern end of Købmagergade and will see the historic buildings restored and their heritage features enhanced. The substantial redevelopment will also fulfil a number of sustainability requirements and will obtain a DGNB-certificate.

As part of the transaction, Catella organized a structured financing process, where a number of selected lenders were approached, including international banks and institutional financing providers, with the aim to procure financing and establish a potential long-term relationship with a preferred lender.

The debt transaction attracted significant interest due to its characteristics, debt size, and prime location alongside the creditworthiness of a global real estate company like Hines. Following the substantial interest, the financing was ultimately provided by a leading pan-Nordic lender.

Manuela Scheibe, Head of debt advisory Nordic, comments: 'In a time where capital markets are volatile and credit appetite subject to some degree of conservatism, Catella is pleased to have had the opportunity to assist Hines with the redevelopment financing of this landmark project. It will be a pleasure to follow the development of this vibrant quarter'.