1.5M SF German Office And Hotel Scheme Seeks Debt Extension

Barchart · 10/17 16:42
The owners of a giant office and hotel “groundscraper” complex in Frankfurt, Germany, are seeking a one-year extension on a €530M (£441M) loan secured against the building. A notice to investors that bought bonds secured against The Squaire complex next to Frankfurt Airport says the borrower requested an extension to the debt, which matures in December. It adds that the servicer managing the debt on behalf of bondholders was considering the request. The Squaire is one of the largest single buildings in Europe and boasts a unique layout. The structure is 1.5M SF, nine stories high and 660 metres long.  It is owned by a consortium that includes London-based private...