With € 510 million largest financing in the history of Deutsche Hypo
Berlin Hyp and HSH Nordbank provide € 250 million or € 200 million respectively
As part of a club deal, Deutsche Hypo, Berlin Hyp and HSH Nordbank finance an extensive existing real estate portfolio for DIC Asset AG. The financing volume amounts to € 960 million, provided by Deutsche Hypo as arranger and consortium leader with € 510 million, Berlin Hyp with € 250 million and HSH Nordbank with € 200 million. The loan with a total term of up to seven years prematurely replaces the previous financing for the Commercial Portfolio of DIC, which has been made available by several Banks.
The financed portfolio includes commercial properties throughout Germany, with North Rhine-Westphalia and Hesse forming the regional focus. The predominant share is attributable to office properties.
“We are pleased to be able to accompany our long-standing customer DIC – together with Berlin Hyp and HSH Nordbank – in this remarkable transaction,” emphasizes Andreas Pohl, Chairman of the Board of Managing Directors of Deutsche Hypo, on behalf of the bank consortium. “This is the largest financing in the history of Deutsche Hypo. It is planned that we will syndicate part of the provided financing volume to other bank partners.”
The three consortium banks were advised by Hogan Lovells International LLP in the transaction.
Photos of several properties belonging to the DIC portfolio are available below. Please note the following copyright: “DIC Asset AG”.
About Deutsche Hypo
Deutsche Hypothekenbank (Actien-Gesellschaft) is a Pfandbriefbank specialising in the financing of commercial real estate. It is a member company of the NORD/LB Group in which it forms the centre of competence for the core business field of Commercial Real Estate Financing. Founded in 1872, Deutsche Hypo operates in Germany, the United Kingdom, France, the Benelux countries and Poland. The Bank has its headquarters in Hanover, with locations in Hamburg, Frankfurt and Munich, as well as in Amsterdam, London, Paris and Warsaw. With around 400 employees and total assets of € 25.7 billion, Deutsche Hypo is among the major German real estate financing institutes. Further information on Deutsche Hypo can be found at deutsche-hypo.de.
About Berlin Hyp
Berlin Hyp specialises in large-volume real estate finance for professional investors and housing societies, for whom the Bank develops individual financing solutions. As an enterprise forming a Group together with the German savings banks, it also makes an extensive spectrum of products and services available to these institutions. Berlin Hyp’s clear focus, almost 150 years of experience and its close proximity to the Savings Banks Finance Group characterise the Bank as a leading German real estate and Pfandbrief bank.
About HSH Nordbank
HSH Nordbank is a competent partner for medium-sized entrepreneurs. In the area of commercial real estate finance the Bank ranks among the main players in Germany. It helps project developers, investors and property developers to implement their plans and provides dependable assistance over the entire lifetime of their real estate. The Bank supports international clients in connection with their investments in Germany. The bank is deeply routed in the real estate business in its home market of Hamburg and Schleswig-Holstein. Other regional focal points are the German metropolitan regions of Berlin, Dusseldorf/Cologne/Ruhr area, Frankfurt, Stuttgart and Munich.