Ashurst advised a consortium comprising pbb Deutsche Pfandbriefbank AG and ERGO Lebensversicherung AG on the financing of the new urban quarter "Schwabinger Tor" in Munich. Real estate company Jost Hurler Beteiligungs- und Verwaltungsgesellschaft GmbH & Co. KG (Jost Hurler) is the borrower. The financing volume amounts to approximately €388 million.

Situated on the northern part of Munich's renowned Leopoldstraße, Jost Hurler intends to construct until 2017 an urban district with 200 apartments, offices, shops, restaurants and a hotel of Hyatt brand Andaz on a total area of 90,000 square meters. Nine buildings will be constructed, including three 50-metre high-rise buildings. Schwabinger Tor is one of the largest construction projects in southern Germany. Jost Hurler wants to retain ownership of all properties.

The Ashurst team was led by partners Sebastian Schoon (Munich) and Derk Opitz (Frankfurt). Counsel Christiane Kneip and associate Isabell Pöller supported (both Munich, all banking).