Ashurst advises UniCredit on credit facility to IREIT Global
Ashurst advised UniCredit Bank AG (UniCredit) on the granting of a €200.8 million credit facility to various subsidiaries of IREIT Global (IREIT). The loan will be used to refinance a portfolio of office, retail and industrial properties in Berlin, Bonn, Darmstadt, Münster and Munich with a total usable space of around 200,600 sqm.
The Ashurst team was led by its Frankfurt partner Derk Opitz. He was supported by associate Emilie Veyran-Müller and transaction manager Carina Gläßl (all Banking & Finance). Partner Nicolas Deuerling and counsel Bernd Bäumer advised on real estate matters. Partner Dr Martin Bünning and associate Carina Park (all Frankfurt) provided tax advice.
Ashurst regularly advises UniCredit in relation to financings, predominantly on acquisition financings and corporate loans.
From Ashurst's international network, partner Jean Woo and senior associate Cara Stevens (both Banking & Finance, both Singapore) and senior associate Eugene Ng (Structured Finance, Sydney) advised on Singapore law.
Partner Diederik Vriesendorp and senior associate Sjors Panis (Nauta Dutilh, Amsterdam) advised on Dutch law.
UniCredit's in-house team supported on the matter in person of legal counsel Johannes Jaschke.
IREIT Global is the first real estate investment trust listed in Singapore with the investment strategy of principally investing, directly or indirectly, in a portfolio of income-producing real estate in Europe which is used primarily for office, retail and industrial (including logistics) purposes, as well as real estate-related assets.
IREIT was advised by Bernhard Gemmel (Dentons, Frankfurt).
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