Baker McKenzie advised Berlin Hyp AG as lender in a financing transaction with the RFR Group. RFR acquired the Prenzlauer Berg substation property from Avignon Capital by way of a real estate share deal. In the course of the acquisition, a loan of approximately EUR 65 million was issued to the acquired property company.
The Prenzlauer Berg transformer station is a historic monument, which was constructed between 1924 and 1926 and is now used as an office building. The property is fully let to GetYourGuide Germany.
Baker McKenzie provided comprehensive advice on all legal aspects in connection with the financing of the real estate share deal.
"The transaction is a great success for our client and for us. With our well-rehearsed team and our experience in financing and real estate share deals, we were able to support our client in the successful completion of the financing transaction", comments Dr. Patrick Mittmann, lead partner in the transaction.
Berlin Hyp specializes in large-volume real estate finance for professional investors and housing societies, for whom the Bank develops individual financing solutions. As an enterprise forming a Group together with the German savings banks, it also makes an extensive spectrum of products and services available to these institutions. Berlin Hyp is not only at the forefront as the issuer of the first Green Pfandbrief; the bank also supports the financing of sustainable real estate. Berlin Hyp’s clear focus, 150 years of experience and the ability to actively shape the digital transformation in the real estate sector with an eye to the future characterize the Bank as a leading German real estate and Pfandbrief bank.
The RFR Group of the two German-based real estate investors Aby Rosen and Michael Fuchs currently manages more than 100 properties worldwide with real estate assets of around 15 billion euros, including around five billion euros in Germany.
The Banking & Finance-Team of Baker McKenzie regularly advises a large number of German and international financial institutions. Amongst the most recent clients are such institutions as the ING Bank, DZ Bank, LBBW, Commerzbank, MUFG, UBS, BNPP, DEKA, SCB, RBS, CAERUS Debt Investments AG and Berlin Hyp AG.
Legal advisor to Berlin Hyp AG:
Banking & Finance: Dr. Patrick Mittmann (partner, Frankfurt)
Banking & Finance: Kathrin Marchant (partner, Frankfurt), Dr. Robert Wippel (counsel, Vienna), Jean-Francois Trapp (partner, Luxemburg), Alexis Bouvet (associate, Luxemburg)
Real Estate: Dr. Niklas Wielandt (senior associate, Frankfurt)