Legal DealFolio - Deutsche Pfandbriefbank Financing for Werksviertel Complex

Ashurst advised pbb Deutsche Pfandbriefbank on the financing of the acquisition and the redevelopment of a commercial real estate building complex in Munich's new Werksviertel. The bank provided the buyer, a special-purpose vehicle held by Westbrook Partners Group, with a loan in an amount of up to EUR63 million in relation to the financing of the acquisition and the subsequent redevelopment by Fiduciary Capital GmbH as project developer. Munich's new neighborhood Werksviertel, located behind the city's railway station east, covers 38 hectares and offers space to live and work as well as combined shopping, cultural and leisure facilities. The financed project includes the new development of an office high-rise with 13 full storeys as well as the partial demolition and reconstruction of adjacent buildings. The floor space amounts to over 21,500 square metres. Ashurst advised with banking and corporate lawyers from Frankfurt, Munich and London. The team was led by banking partner Dr Stephan Kock (Frankfurt), assisted by counsel Christiane Kneip (Munich).

Deal Date:	19-08-2014	Practice Area:	International Finance and Bank Credit
Deal Title:	Deutsche Pfandbriefbank Financing for Werksviertel Complex	Industry:	Real Estate Investment & Services
Description:	Ashurst advised pbb Deutsche Pfandbriefbank on the financing of the acquisition and the redevelopment of a commercial real estate building complex in Munich's new Werksviertel. The bank provided the buyer, a special-purpose vehicle held by Westbrook Partners Group, with a loan in an amount of up to EUR63 million in relation to the financing of the acquisition and the subsequent redevelopment by Fiduciary Capital GmbH as project developer. Munich's new neighborhood Werksviertel, located behind the city's railway station east, covers 38 hectares and offers space to live and work as well as combined shopping, cultural and leisure facilities. The financed project includes the new development of an office high-rise with 13 full storeys as well as the partial demolition and reconstruction of adjacent buildings. The floor space amounts to over 21,500 square metres. Ashurst advised with banking and corporate lawyers from Frankfurt, Munich and London. The team was led by banking partner Dr Stephan Kock (Frankfurt), assisted by counsel Christiane Kneip (Munich).
Financial Center:	Frankfurt	Value:	0.00-0.00
Advised Party:	Lender	Law Firm	Ashurst
Real Estate Jurisdiction	Germany	Real Estate Jurisdiction	Germany
Classification:	Real Estate Finance Office	Lawyer	Stephan Kock

Practice Areas -

International Finance and Bank Credit Law Firms and Lawyers

Practice Areas - International Finance and Bank Credit Law Firms and Lawyers