DLA Piper has advised real estate company Octagon Residential S.à.r.l. on the refinancing of a German residential portfolio. Octagon was refinanced by a comprehensively secured senior loan by Deutsche Pfandbriefbank in the amount of 36 million Euro and a subordinated secured mezzanine tranche.

The residential portfolio is located on seven sites in West Germany, including Dusseldorf, Frankfurt am Main and Cologne. It contains nearly 1,000 units and a dwelling area of about 65,000 square meters. It is held by different entities. The asset manager Feondor was responsible for the sourcing and the management of the transaction.

The DLA Piper team led by partner Dr Nina-Luisa Siedler (Finance & Projects, Frankfurt) comprised of partners Martin Heinsius (Tax, Frankfurt) and Catherine Pogorzelski (Corporate, Luxembourg), notary Irene Schmid (Real Estate, Berlin), Ambroise Foerster (Litigation & Regulatory, Luxembourg), Aymeric Robine (Corporate, Luxembourg) as well as associates Martin Wilmsen (Finance & Projects, Frankfurt) and Marius Hommer (Restructuring, Berlin).

Advisors Deutsche Pfandbriefbank (Latham & Watkins LLP): Dr Andreas Diem (Partner, Munich), Dr Torsten Volkholz (Associate, Hamburg) (both lead manager), Anna-Maria Kuckerz (Associate, Hamburg) (all Finance & Projects).