Ashurst advised Aggregate Group (Aggregate) and TAURECON Real Estate Consulting GmbH (Taurecon) on the financing of another part of the "Quartier Heidestrasse" development in Berlin, comprising four building complexes with a total lettable area of over 72,000 sqm.
The financing was provided by a consortium led by Deutsche Hypothekenbank. The senior financing amounts to approximately €296m, the mezzanine financing provided by Deutsche Bank totals €65m. Aggregate Financial Services GmbH acted as financial advisor to the borrowers.
Ashurst previously advised Taurecon and Aggregate on the financing of the "Track" project as part of the "Quartier Heidestrasse" property development in Berlin. The Ashurst team was led by partner Filip Kurkowski, senior associate Torsten Limberg (joint team lead) and partner Derk Opitz (all Real Estate Finance, Frankfurt). They were assisted by partners Jan Krekeler (Corporate/M&A), Dr Anders Kraft (Tax) and Nicolas Deuerling (Real Estate), counsel Bernd Bäumer (Real Estate), senior associate Dr Susanne Knoch (Tax), associates Dr Jan Ulrich Heinemann and Patrick Rauch (both Real Estate Finance), senior transaction lawyer Julia Donnecker, transaction lawyer Jeanine Boch-Kraul as well as transaction manager Carina Gläßl (all Real Estate Finance). Advice on Luxembourg law was provided by partner Fabien Debroise (Finance, Luxembourg).
The Ashurst Real Estate Finance team has recently advised on several high-volume real estate financings involving mezzanine financing, such as Société Générale and Blackrock on the financing of a residential property portfolio as well as Flins Capital Partners on the project development "Four" in Frankfurt and "Glasmacherviertel" in Düsseldorf.
