Ashurst advises Aggregate and Taurecon on the financing of the construction project 'Quartier Heidestrasse – Track' by LBBW
Ashurst advised Aggregate Group (Aggregate) and TAURECON Real Estate Consulting GmbH (Taurecon) on the financing of the real estate development 'Quartier Heidestrasse – Track' in Berlin. Landesbank Baden-Württemberg (LBBW) was acting as the lender.
In close proximity to the Berlin central station LBBW finances the construction of the building complex 'Track' for Aggregate Holdings S.A. and project developer Taurecon as a part of the large-scale Europa-City new development area 'Quartier Heidestrasse'. The ensemble comprises nine connected building structures which will hold approximately 108,000 sqm office space for about 8,500 jobs after completion in 2023. The development financing amounts to approximately EUR 400 million, whereas Aggregate Financial Services GmbH acted as financial advisor.
Ashurst advised Taurecon and Aggregate for the first time. The Ashurst team was led by senior associate Torsten Limberg and partner Derk Opitz (both Real Estate Finance). They were supported by partners Jan Krekeler (Corporate/M&A), Dr Martin Bünning (Tax) and Nicolas Deuerling (Real Estate), counsel Bernd Bäumer (Real Estate), senior associate Dr Susanne Knoch (Tax), associates Dr Jan Ulrich Heinemann, Patrick Rauch (both Real Estate Finance) and Carina Park (Tax), transaction lawyer Julia Probst and transaction manager Carina Gläßl (both Real Estate Finance).
The Ashurst Real Estate Finance Team recently advised on several high-volume property developments, such as UniCredit Bank AG on the financing of the 'Wasserstadt Mitte' project (also located within the Europacity area in Berlin) or Warburg-HIH on the acquisition of the 'DB Brick and DB Tower' project.
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