Next Generation Partners

Rising Stars

Real estate finance in Germany

Allen & Overy LLP

Allen & Overy LLP‘s team is led by Olaf Meisen and comprehensively advises on large-volume transaction with frequent cross-border ties; the expertise covers all aspects of real estate financing, such as gap financing, mezzanine financing, preferred equity financing and distressed investments. Traditionally, the practice assists on the lender side, including banks as well as German and international asset and investment managers, insurance companies and funds. Stefan Kuhm is well versed in financing instruments such as mortgage loans and also covers structured financing and restructuring; the latter saw a recent increase in support. Regulatory capacities pertaining to real estate funds and ESG-related matters were strengthened with the addition of Dorothee Atwell from Pinsent Masons Rechtsanwälte Steuerberater Solicitors Partnerschaft mbB in May 2023.

Responsables de la pratique:

Olaf Meisen


Autres avocats clés:

Stefan Kuhm; John Coburn; Dorothee Atwell


Principaux clients

DekaBank Deutsche Girozentrale


Aareal


Ärzteversorgung Westfalen-Lippe


Landesbank Hessen-Thüringen Girozentrale (Helaba)


Landesbank Baden-Württemberg (LBBW)


Natixis


Société Générale


Vonovia SE


Principaux dossiers


  • Advising Vonovia SE as sponsor and borrower in connection with various credit facilities of Berlin Hyp, Bayerische Landesbank, Caixa Bank SA and Landesbank Baden-Württemberg.

Clifford Chance

Clifford Chance is instructed by both lenders and borrowers, which benefit from the close cooperation with the real estate team as well as capacities at the intersections with banking, capital markets and tax law. The team's mainstays include cross-border financing, structured finance transactions, which are often handled by Beda Wortmann and practice head Tobias Schulten, as well as refinancing, bonds and securitisations and, increasingly, alternative financing.

Responsables de la pratique:

Tobias Schulten


Autres avocats clés:

Melissa Staunton; Beda Wortmann


Les références

‘Tobias Schulten: Excellent advice; very high level of expertise in complex financing contracts; very good negotiation skills.’

Principaux clients

COLCAP


Kohlberg Kravis Roberts & Co L.P.


NATIXIS Pfandbriefbank AG


Goldman Sachs Bank USA


BentallGreenOak


Exeter Europe Industrial Core HoldCo S.a.r.l.


Principaux dossiers


  • Advising COLCAP on the financing of the sustainable building complex EDGE Suedkreuz Berlin.

  • Advising Kohlberg Kravis Roberts & Co. LP as lead arranger on the refinancing of several real estate companies in connection with a real estate portfolio and the acquisition of several properties.

  • Advising Exeter Europe Industrial Core Holdco S.à rl on the refinancing of the ongoing acquisition of some industrial properties in Germany as part of a Europe-wide refinancing of portfolio debt.

Greenberg Traurig Germany

Greenberg Traurig Germany comprehensively advises on acquisition and development financing as well as financial restructuring, covering all real estate sectors, including office, retail and industrial. The team is instructed by both borrowers and lenders, which the team assists with bond agreements, refinancing, mezzanine structures and overall loan financing and also benefit from the firm's international network in cross-border transactions. Both Anika Mitzkait and practice head Claudia Hard boast similar competencies; Hard also has expertise in bond financing and distressed investments, while Mitzkait is well versed in real estate law.

Responsables de la pratique:

Claudia Hard


Autres avocats clés:

Anika Mitzkait


Les références

‘Very good transaction-related cooperation and competent advice in combination with solution orientation.’

‘Claudia Hard, as the responsible partner, is available and easy to contact at short notice at any time. Very pleasant cooperation.’

‘The team led by Claudia Hard uniquely combines banking and financial law with in-depth real estate law know-how. Paired with the solution-oriented approach, clients receive pragmatic and solution-oriented advice.’

Principaux clients

LINUS Digital Finance


pbb Deutsche Pfandbriefbank AG


Heimstaden


Dream Industrial REIT


Peakside


Aventos


KKR/Velero


BF.capital


Berlin Hyp AG


Tristan Capital Partners


Pinebridge Benson Elliot


Hanse Merkur


FAP


EDGE Technologies


Activum


Principaux dossiers


  • Advising Peakside on the financing of the acquisition and development of the ‘Hessischer Hof’ in Frankfurt am Main by Hamburg Commercial Bank, a luxury hotel that was closed during the Covid-19 pandemic and is to be renovated and repositioned in the upper luxury segment.

Ashurst LLP

Ashurst LLP focuses on advising banks, debt funds and private equity houses on mezzanine financing structures, practice head Filip Kurkowski regularly takes the lead here; his team also comprehensively covers the entire spectrum of traditional financing instruments, including mortgage financing, as well as structured financing, such as senior structures and bonds. The latter areas are among the competencies of Derk Opitz, who has additional expertise in interfacing project financing matters; this expertise was recently increasingly called upon in connection with project developments. The practice covers all asset classes, including office, residential and commercial properties.

Responsables de la pratique:

Filip Kurkowski


Autres avocats clés:

Derk Opitz


Les références

‘Filip Kurkowski: approachable, likeable, perceptive, pragmatic, solution-oriented.’

‘Filip Kurkowski is a very reliable, knowledgeable and committed partner. We have worked with him regularly over the past few years and will continue to do so.’

‘Filip Kurkowski is an extremely good lawyer for real estate financing law, especially for alternative financiers. He gets the best out of complicated negotiations for his clients.’

Principaux clients

Berlin Hyp


BNP Paribas


Barings


Flins Capital


ING Bank


Prime Capital


Societé Générale


Principaux dossiers


  • Advising Socíété Générale in connection with the granting of a loan totaling approximately €61 million to finance the acquisition of commercial real estate at various locations in Germany.

  • Advising a fund managed by Prime Capital AG on the purchase financing of a property in Frankfurt am Main, which is to be realigned as part of a project development, as well as on the subsequent extension. Prime Capital acted as arranger of various tranches with a total volume of €130 million.

CMS

CMS advises debt funds, insurance companies, real estate funds and banks on syndicated loan agreements, mezzanine capital, portfolio financing and in connection with project developments, including interfacing tax law matters. Advising on real estate financing in the project development context is a particular strength of the team. Recently, ESG topics such as key performance indicators (KPIs) and advice on financing restructuring matters have also played an increasingly important role. André Frischemeier is a key contact for the latter, he jointly heads the team with Kerstin Block (acquisition, project and asset financing).

Responsables de la pratique:

Kerstin Block; André Frischemeier


Autres avocats clés:

Markus Pfaff; Marc Seibold


Principaux dossiers


Noerr

Noerr focuses on acquisition financing in connection with ESG-related performance indicators and is regularly instructed by banks, sponsors and other financial institutions. Most recently, the team advised on senior, mezzanine and bridge financing as well as refinancing and joint ventures in the real estate sector, frequently in connection with the construction of logistics centers, although the team covers various asset classes. Practice head Andreas Naujoks routinely assists with national and international financing transactions and has experience in corporate financing and restructuring. Counsel Doreen Pape (real estate and acquisition financing, corporate finance) is another key contact.

Responsables de la pratique:

Andreas Naujoks


Autres avocats clés:

Karsten Fink; Doreen Pape; Dorian Legel


Principaux clients

A&T Alpha |Credit SA


Ara Venn Fonds


ATMIRA Gruppe


Berliner Hypo


Berliner Sparkasse


Caerus Debt Investments


DZ HYP


ERGO Group AG


ING Bank


Lenwood


Natixis


NordLB/Deutsche Hypo


Peach Property Gruppe


Postbank- eine Niederlassung der Deutsche Bank AG


Prime Capital Access


TAG Immobilien AG


Principaux dossiers


  • Advising a banking consortium on the construction of a district consisting of ten building plots with diverse uses for different target groups and generations with around 128,800m² of rental space.

  • Advising a banking consortium consisting of NordLB, Commerzbank, Landesbank Saar, Sparkasse Bremen AG, Sparkasse Hannover, Stadtsparkasse München and Airbus Bank on the valuation of the T2 financing completed in 2019 (part of the overall project The Four by Groß & Partner in Frankfurt).

  • Advising TAG Immobilien AG on a €200 million capital increase with subscription rights and on the extension of the bridge financing.

Norton Rose Fulbright

Norton Rose Fulbright's real estate finance team is integrated into the real estate practice led by Maren Stölting and thus comprehensively advises both lenders and borrowers on financing-related issues, such as real estate, tax and environmental law; clients also benefit from the frequent cross-location cooperation thanks to the international network. Andrea Spellerberg comprehensively covers credit financing matters, while Stefan Schramm is well versed in structured financing.

Responsables de la pratique:

Maren Stölting


Autres avocats clés:

Veit Sahlfeld; Stefan Schramm; Andrea Spellerberg; Bernhard Fiedler


Les références

‘Smooth communication within the team. Instantly available in urgent scenarios.’

‘Perfectly balanced and well-coordinated team.’

‘Extremely goal and solution-oriented. Pragmatic solutions based on in-depth know-how.’

Principaux clients

Ambridge


Amundi


Bayerische Landesbank


BF.capital GmbH


BNP Paribas Real Estate Investment Management


Europäische Investitionsbank


Hamburg Commercial Bank (HCOB)


HanseMerkur


HYPO NOE Landesbank für Niederösterreich und Wien AG


Invesco


LBBW


LCN Capital Partners


Nuveen


Obotritia Capital


Real I.S. AG


Savills Investment Management


Standard Chartered Bank


Swiss Life


Unibail-Rodamco-Westfield


UniCredit / Wealthcap


Union Investment


Principaux dossiers


  • Advising various funds managed by Invesco in connection with numerous real estate financing, refinancing and restructuring of various assets.

  • Advising a German initiator and manager of real estate funds with regard to the restructuring of its loan portfolio consisting of more than 120 loans in ten jurisdictions.

  • Advising the Bayerische Landesbank in connection with the refinancing of the listed Alte Akademie in Munich.

Taylor Wessing

Taylor Wessing's team cooperates closely with the firm's other practices, including real estate, tax and investment law, and assists both lenders and borrowers with acquisition financing and refinancing. The practice is led by Clemens Niedner (acquisition financing and restructuring) and also advises on project developments across all asset classes; this is complemented by expertise in cross-border matters. Salary partner Jennifer Maiworm is another key contact and comprehensively advises on national and international banking and finance law.

Responsables de la pratique:

Clemens Niedner


Autres avocats clés:

Hauke Bornschein; Jens Wiesner; Peter Seemann; Jennifer Maiworm


Les références

‘Highly professional legal advice. Incredible experience built up over generations of lawyers, pragmatic legal advice, special ability to respond to highly individual situations and to think and act outside of the box.’

‘Peter Seemann is an extremely experienced financing expert who understands how to develop highly individual solutions pragmatically and efficiently and implement them reliably.’

‘Good availability and a strong team in the background.’

Principaux clients

DZ Hyp AG


Hamburg Commercial Bank AG


Covivio Immobilien SE


Helaba – Landesbank Hessen-Thüringen Girozentrale


NATIXIS Pfandbriefbank AG


PGIM


HYPO NOE Landesbank für Niederösterreich und Wien AG


Bayerische Landesbank


Investec Bank Plc


Tishman Speyer


Principaux dossiers


  • Advising Tishman Speyer on the refinancing of Quartier 205 in Berlin by Helaba.

  • Advising Hamburg Commercial Bank (HCOB) on the acquisition financing of €160 million for the International Campus Group.

  • Advising Hamburg Commercial Bank (HCOB) on all matters relating to the financing provided by the bank to the investment manager Peakside Capital in the amount of €30.9 million for the purchase and revitalization of a hotel complex, including an office building, in Frankfurt am Main.

White & Case LLP

White & Case LLP 's real estate finance team routinely cooperates with other locations and advises banks and financial institutions as well as real estate investors on cross-border financing; advising at the interface with capital markets law is a core strength. Key contacts include Thomas Flatten (real estate, acquisition and project financing), leveraged finance transactions and structured finance transaction expert Andreas Lischka and Sébastien Seele, who is experienced in mortgage-secured real estate loans, loan and bond financing as well as structured financing.

Autres avocats clés:

Thomas Flatten; Sébastien Seele; Andreas Lischka


Principaux clients

Adler Group


J.P. Morgan


BNP Paribas


Deutsche Bank


Aggregate Holdings S.A.


Morgan Stanley


HSBC Trinkaus & Burkhardt


Principaux dossiers


  • Advising Adler Group SA and its subsidiaries on financing commitments for a new secured debt financing of €937.5 million to stabilize the business operations and capital structure as well as on a lock-up agreement.

  • Advising Aggregate Holdings SA on the financing of the purchase of the Fürst real estate project, including follow-up advice.

  • Advising a consortium in connection with the financing of the acquisition of two data centers in Hamburg by 495.Equity Management GmbH and UNA 496.Equity Management GmbH, subsidiaries of Deutsche Beteiligungs AG.

Bryan Cave Leighton Paisner

Bryan Cave Leighton Paisner‘s real estate finance practice significantly increased its visibility in the real estate financing market since the arrival of Frank Schwem (real estate acquisition financing and construction project financing), Torsten Pokropp (real estate acquisitions) and ESG expert Martin Wilmsen from DLA Piper in 2022. The client roster includes banks, pension funds, insurance companies and debt funds, which the team advises on national and cross-border financing transactions, such as acquisition financing across all asset classes and financing in the project development context.

Autres avocats clés:

Frank Schwem; Torsten Pokropp; Martin Wilmsen; Tony Sparing


Les références

‘The entire team is highly professional and socially competent.’

‘Torsten Pokropp: Excellent, professional, very hands-on, always friendly and quick response times.’

‘Martin Wilmsen is an ESG expert.’

Principaux clients

LBBW Landesbank Baden-Württemberg


Helaba Landesbank Hessen-Thüringen Girozentrale


pbb Deutsche Pfandbriefbank AG


FOM Real Estate


Linus Digital Finance


CBRE Global Investors


Collineo Asset Management GmbH


Union Investment


Santander


Norddeutsche Landesbank Girozentrale


Gleiss Lutz

Gleiss Lutz's finance team is integrated into the firm's wider real estate transaction team and thus covers interfacing corporate real estate, real estate finance and real estate tax matters; among the client roster are real estate investors and funds. Burkhard Jäkel (project and real estate financing) and Helge Kortz (banking, finance and capital markets law) frequently take the lead.

Autres avocats clés:

Burkhard Jäkel; Helge Kortz


Les références

‘Very well coordinated team, efficient transaction management. Pragmatic approach without lacking legal rigor.’

‘Burkhard Jäkel is very experienced, he offers a solution for every problem, which is satisfactory for all parties.’

GSK Stockmann

GSK Stockmann advises both banks and investors on acquisition and project development financing; the team is experienced in the asset classes commercial and hotel as well as nursing home properties. Core competencies include the advice on mezzanine structures and joint venture agreements as well as internal banking requirements. Practice head Alma Franke is well versed in the financing of special properties such as hotels and shopping centers; Stefan Koser complements this with expertise in financing restructuring.

Responsables de la pratique:

Stefan Koser; Alma Franke


Autres avocats clés:

Rebecca Comtesse; Mechtild-Maria Siebke


Principaux clients

ABG Real Estate Group


abrdn Investments Deutschland AG


Alchemy Step Hotel Group


Art-Invest Real Estate


Deutsche Finance International und Cells Property Investors GmbH


DLE Living GmbH


DZ HYP AG


Equilis-Gruppe


FREO GROUP


Groß & Partner Grundstücksentwicklungsgesellschaft mbH


Lakeward Management AG


LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH


Niedersachsen Ports GmbH & Co. KG (NPorts)


Olam Food Ingredients


Oldenburgische Landesbank


Stadtsparkasse München


Principaux dossiers


  • Advising the joint venture of ABG Real Estate Group and HanseMerkur Grundvermögen on the purchase of the main branch of Deutsche Bank.

  • Advising the Alchemy Step Hotel Group on the acquisition and financing of various hotels in Dortmund, Bochum, Schwerin and Magdeburg.

  • Advising Groß & Partner Projektentwicklungsgesellschaft mbH in connection with the financing of the FOUR project development consisting of four high-rise buildings in Frankfurt am Main.

Hogan Lovells International LLP

Hogan Lovells International LLP's real estate financing team is integrated into the firm's wider corporate & finance practice, thus covering various interfaces, including topics such as green finance and restructuring. The practice is jointly led by Katlen Blocker (banking and financial law), Dirk Debald (real estate transactions and financing) as well as Carla Luh (project financing) and advises banks, investment companies and debt funds on acquisition financing and refinancing, including mezzanine and senior financing as well as project development financing.

Responsables de la pratique:

Katlen Blöcker; Dirk Debald; Carla Luh


Autres avocats clés:

Christian Herweg; Julian Fischer; Katharina Kranzfelder


Les références

‘Very good availability, quick reactions, we felt we were in good hands.’

‘The collaboration with Christian Herweg was excellent.’

‘Very well-coordinated and experienced financing team, which also has excellent knowledge of insolvency and workout topics. Collaboration and coordination with the other teams works flawlessly and without any problems.’

Principaux clients

Bayerische Landesbank


Cresco Real Estate


Deutsche Pfandbriefbank AG


Standard Chartered Bank


UniInstitutional Private Debt SCS SICAV-SIF


Wilmington Trust SP Services (Frankfurt) GmbH


Hillwood


LUWIN Real Estate


Olbos/Trimelon


PROdelocx GmbH


Union Investment


VALUES Real Estate


Principaux dossiers


  • Advising Deutsche Pfandbriefbank on the financing of the purchase of Schlosshof Wandsbek, an office campus measuring approximately 15,600m² in Hamburg.

  • Advising Standard Chartered Bank on the financing of a cross-border logistics portfolio with locations in Poland, Germany, France and the Netherlands.

  • Advising LUWIN Real Estate on the acquisition of the Amazon distribution center in Nuremberg.

McDermott Will & Emery Rechtsanwälte Steuerberater LLP

McDermott Will & Emery Rechtsanwälte Steuerberater LLP advises on senior, mezzanine and alternative debt capital structures and also has expertise in project development financing and leasehold transactions. Practice head Oliver Lieth and his team primarily advise borrowers, but are also instructed by lenders pertaining to financing across all asset classes, including residential and commercial.

Responsables de la pratique:

Oliver Lieth


Autres avocats clés:

Christoph Coenen; Dustin Schwerdtfeger


Les références

‘Good insight into the economic and entrepreneurial background.’

‘Working with Oliver Lieth was always very pleasant. He is very competent and always easy to contact. He responds and answers instantly. I felt very well advised and supported at all times. I also particularly liked his pragmatism.’

‘Highly professional with an outstanding solution approach and excellent legal expertise.’

Principaux clients

Bayiko Bamberger 38 GmbH


BE REAL Berlin S.à r.l.


Berlin, Alexanderplatz 9 Immobilien GmbH


Berlin, Passauer Strasse 1-3 Immobilien


Col REO Victoria Office A S.à r.l.


Düsseldorf, Carschhaus GmbH


DWK PropCo 1 S.à r.l.


ERI PropCo 1 S.à r.l.


Frankfurt, An der Hauptwache 1 Immobilie


Hamburg, Elbtower Immobilien GmbH & Co.


IMFARR GROUP


München, Bahnhofplatz Immobilien GmbH


Scannell Deutschland No. 011 GmbH


CV Real Estate AG


Principaux dossiers


  • Advising Hamburg, Elbtower Immobilien GmbH & Co. on project development financing for the Elbtower high-rise and landmark project in Hamburg.

  • Advising München, Bahnhofplatz Immobilien GmbH & Co. on the refinancing of a sub-complex on Munich’s Bahnhofplatz.

  • Advising Scannell Deutschland No. 011 GmbH on the acquisition of land and the financing of the project development of a logistics center.