Baker McKenzie advised Helaba Landesbank Hessen-Thüringen as arranger, agent and lender on a refinancing for VIB Vermögen AG, a subsidiary of DIC Asset AG, of a diversified logistics portfolio comprising 45 properties. The loan in the total amount of EUR 505 million has a term of seven years. Further lenders were Bayerische Landesbank (which was also co-arranger) and Berlin Hyp AG.
The locations of the logistics portfolio with its total of 45 properties are spread across four German states, with the focus of more than 80 percent being in Bavaria, followed by Baden-Württemberg. The predominant uses of the rental space are logistics and warehousing. The portfolio is currently 97 percent leased.
Baker McKenzie advised Helaba on all legal aspects related to the financing.
"We thank the financing banks for the trust they have placed in our real estate finance practice," commented Dr. Patrick Mittmann, Lead Partner of the transaction.
The Banking & Finance team of Baker McKenzie regularly advise a large number of German and international financial institutions in international financing transactions. In addition to ING and SACE, recent clients include AKA, BNPP, Commerzbank, DEKA, Deutsche Bank, DZ Bank, KfW IPEX, LBBW, MUFG, NordLB, ODDO BHF, SCB and UBS.
Legal advisor to Helaba:
Banking & Finance: Patrick Mittmann (partner, Frankfurt)
Banking & Finance: Doene Diren Aksu (Associate, Frankfurt)