Ashurst advised UniCredit Bank AG and the UniCredit Bank Austria AG (UniCredit) on financing the acquisition of a portfolio of German and Austrian commercial real estate by Hanse Merkur Grundvermögen (HMG), a subsidiary of the insurance company HanseMerkur in Hamburg.

The seller of the 34 properties in total is the Austrian real estate group Conwert, which had announced the transaction in an Ad hoc announcement in September 2016. All in all, UniCredit grants two loans in the amount of €154 million.

The Ashurst team was led by partner Derk Opitz and counsel Dr Endrik Kramski who were assisted by the associates Torsten Limberg, Dr Jan Ulrich Heinemann and Anna Jevsejeva (all finance). Partner Dr Martin Bünning advised on tax law (all Frankfurt).