DekaBank plans to grow its UK commercial property lending activity “despite Brexit” as it converts its representative office in London into a branch.
Mark Titcomb, head of Deka’s representative office, will lead the branch. Titcomb has been active in the British real estate lending business for more than 20 years – close to 10 of those at Deka.
After a decade in the UK, Deka has an existing loan book of €2bn in the UK and Ireland. Among its major deals in the UK include the financing the HSBC Tower, London Stock Exchange and Sainsbury’s headquarters in the capital, and Merry Hill Shopping Centre in Birmingham.
Anni Hönicke, head of real estate lending at DekaBank, said: “Despite Brexit, we are expanding our presence in the UK. This shows our clear commitment to the British market.
“Since entering the British market, we have arranged new financings in excess of €5bn. We would like to increase this even further in the upcoming years. As a long-term lender, we continue to believe in the potential of the British real estate market.”
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