Baker McKenzie advised a consortium led by Deutsche Hypo - NORD/LB Real Estate Finance together with DZ Hyp, Helaba and Deutsche Pfandbriefbank on a refinancing of DIC Asset AG ("DIC"), one of the leading German listed real estate companies. 

The old secured financing with an original maturity of 2023 will be replaced by a new loan of approximately EUR 550 million with a maturity of 7 years and an average annual interest rate of 1.1 percent.

Baker McKenzie advised the banking syndicate on all legal aspects related to the refinancing of DIC Asset AG.

"The transaction is a great success for both our clients and for us. With our experience in financing and real estate, we were able to help the banking consortium to successfully close the transaction," commented Dr. Patrick Mittmann, Banking & Finance Partner at Baker McKenzie.

DIC Asset AG is one of the leading German listed commercial real estate specialist with over 20 years of experience in the real estate market and access to a broad investor network. DIC Asset AG is based on its national and regional real estate platform with eight locations in all major German markets. The company manages 237 properties with a market value of approximately EUR 11.4 billion.

Baker McKenzie's Banking & Finance team provides ongoing support for a large number of German and international loan financings. Regular clients include Credit Suisse, BNPP, Commerzbank, DEKA, Deutsche Bank, DZ Bank, ING Bank, LBBW, MUFG, NordLB, SCB and UBS.

Legal advisor to banking consortium:
Baker McKenzie

Lead Partners: Banking & Finance: Dr. Patrick Mittmann (Partner, Frankfurt)

Team: Banking & Finance: Fabian Löw (Associate, Frankfurt)
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