Project Kwartier

Prime Residential Development Loan

• Tite Street Capital, together with its joint venture partner Crestline Investors, Inc., has completed the €88m refinancing of KWARTIER HOMES, a premium 218-unit residential development in Karlsruhe, Baden-Württemberg. 
• The senior whole loan facility refinances the incumbent lender and provides the developer with capital to complete construction.
• Located in the heart of southwest Germany, Karlsruhe is a vibrant and fast-growing city with more than 300,000 residents and 40,000 students. Positioned within a one-hour radius of Frankfurt, Strasbourg, and Stuttgart, Karlsruhe is a leading hub for
• technology and law, home to Germany’s Federal Constitutional Court and the Karlsruhe Institute of Technology (KIT).
• Upon completion, KWARTIER HOMES will deliver 218 residential apartments, averaging 76 m², across 10 buildings, along with 246 parking spaces. The projects benefits from a construction contract with a leading tier-one contractor and will be built to KfW-55 energy efficiency standards and the latest ESG standards.
• The development is being delivered by Munich-based GIEAG Immobilien AG, an experienced, privately-owned real estate developer with over 25 years of experience and more than €630 million in realised projects since the company was founded in 1999.