Aareal Bank has financed an office development in Ankara and the Sheraton hotel near Izmir for a total of €46m.
The two transactions take the German bank’s total lending in Turkey to more than €150m. “Turkey is a country with a high potential in the medium and long term,” said Aareal board member Ralph Hill.
In Turkey, Aareal focuses on shopping centres, business hotels, office buildings and logistics centres in Istanbul, Ankara, Izmir and Antalya.
