DLA Piper has been advising a banking consortium managed by SEB AG and comprising SEB AG, Landesbank Hessen-Thüringen Girozentrale, Deutsche Hypothekenbank (Actien-Gesellschaft), ING Bank and Coreal Credit Bank AG on the refinancing of a retail property portfolio with 38 locations in Germany. The financing amounted to more than 275 million euros. Each of the participating banks is contributing to the financing with an equal share (20 per cent).

The portfolio is owned by a property fund managed by Rockspring Property Investment Managers LLP and consists of 38 individual retail properties with a rentable floor space of some 350,000 square metres.

Rockspring Property Investment Managers LLP is a leading real estate fund manager specializing in retail properties, headquartered in London and with offices in a further six European countries. It currently manages fund assets amounting to approximately 7.3 billion euros in a total of 15 European countries.

Advising for DLA Piper were partners Frank Schwem (Finance & Projects, Frankfurt, overall management) and Dr Carsten Loll (Real Estate, Munich) as well as the associates Dr Torsten Pokropp (Finance & Projects, Frankfurt) and Dr Martin Haller (Real Estate, Munich) Dr Falko Tappen (Tax, Frankfurt) and Dr Jan Tibor Böttcher (Finance & Projects, Frankfurt).

To advise on aspects relating to the law of Jersey, DLA Piper commissioned Carey Olsen, a firm based on the Channel Islands, led by partner Robin Smith.

http://www.dlapiper.com/dla-piper-advises-banking-consortium-on-the-ref…