DLA Piper has advised Helaba Landesbank Hessen-Thüringen on financing for the purchase of an inner-city site of Deutsche Bank in Frankfurt. Helaba has funded the purchase of the 16,000-m² site with a loan from the property development company Gross & Partner.

The site is one of the largest urban development areas in Germany and comprises several buildings, including the 21-storey office building Grosse Gallusstrasse. Deutsche Bank will continue to use the Grosse Gallusstrasse property as well as additional areas until 2017. The immediately adjacent historical building Rossmarkt 18 was not part of the transaction as Deutsche Bank had already sold this property in 2015.

The DLA Piper team was led by partner Frank Schwem  and included senior associate Dr Katalin Legradi and associate Martin Wilmsen (all Finance & Projects, Frankfurt).