Baker McKenzie advised Berlin Hyp AG as lender on a real estate financing for the asset manager Signature Capital. Berlin Hyp is providing a loan of around €48 million for this over a term of five years to refinance an existing credit.
The mortgaged property, built in 1993, is situated on the waterfront, on the Salzufer in Berlin-Charlottenburg, and comprises two individual buildings, one with seven storeys and one with eleven storeys. The total rental area currently amounts to around 15,000 square metres, which is expected to increase to around 17,300 square metres after an extension of two additional storeys. Completion of these new storeys is planned for the end of 2021.
Baker McKenzie advised Berlin Hyp AG on all legal aspects in connection with the real estate financing.
"Once again, we were able to support our client in the successful closing of a real estate financing. The transaction highlights our expertise in financing and real estate share deals," comments Dr. Patrick Mittmann, Banking & Finance Partner at Baker McKenzie.
Berlin Hyp specialises 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.
Signature Capital, with offices in Berlin, Dublin and Luxembourg, was established in 2004 by Ciaran McNamara and Enda Woods and has acquired over €1 billion of real estate assets to date. Signature Capital pursues value added and core plus opportunities in both office and retail assets and has extensive experience and expertise in commercial investments, developments and redevelopments. Signature Capital has been successfully working with funds, institutions and family offices for more than a decade.
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:
Lead: Banking & Finance: Dr. Patrick Mittmann (partner, Frankfurt), Jean-Francois Trapp (partner, Luxembourg)
Team: Banking & Finance: Alexis Bouvet (senior associate), Aline Koenig (associate, both Luxembourg)