DLA Piper has been advising a banking consortium managed by SEB AG and comprising SEB AG, Landesbank Hessen-Thüringen Girozentrale, Deutsche Hypothekenbank (Actien-Gesellschaft), ING Bank and Coreal Credit Bank AG on the refinancing of a retail property portfolio with 38 locations in Germany and a value of more than 275 million euros. Each of the participating banks is contributing to the financing with an equal share (20 per cent).
The portfolio is owned by a property fund managed by Rockspring Property Investment Managers LLP and consists of 38 individual retail properties with a rentable floor space of some 350,000 square metres.
Rockspring Property Investment Managers LLP is a leading real estate fund manager specializing in retail properties, headquartered in London and with offices in a further six European countries. It currently manages fund assets amounting to approximately 7.3 billion euros in a total of 15 European countries.
Advising for DLA Piper were partners Frank Schwem (Finance & Projects, Frankfurt, overall management) and Dr Carsten Loll (Real Estate, Munich) as well as the associates Dr Torsten Pokropp (Finance & Projects, Frankfurt) and Dr Martin Haller (Real Estate, Munich) Dr Falko Tappen (Tax, Frankfurt) and Dr Jan Tibor Böttcher (Finance & Projects, Frankfurt).
To advise on aspects relating to the law of Jersey, DLA Piper commissioned Carey Olsen, a firm based on the Channel Islands, led by partner Robin Smith.
