Perella Weinberg Real Estate Fund II LP (“PWREF II”) has acquired the Frankfurt “Marieninsel” project and has recently been granted a syndicated loan by pbb Deutsche Pfandbriefbank (“pbb”) and Deutsche Hypothekenbank (Actien-Gesellschaft) (“Deutsche Hypo”) of approximately €267m. The loan agreement was signed at the end of February 2016.

With the planned construction of two high-rise buildings, high-quality office premises will be developed on the “Marieninsel” site in Frankfurt’s city centre. The larger of the two is the “Marienturm” tower which will occupy a site on Frankfurt’s Taunusanlage, right within the central business district. The 38-storey building will be 155 metres high and have a rental space of 44,900 m². The adjoining 10-storey “Marienforum”, on Mainzer Landstrasse will be approx. 40 metres high and have a rental space of 11,700m².

Hengeler Mueller advised PWREF II on the acquisition and the financing of the “Marieninsel” project. The Hengeler Mueller Financing team included partner Martin Geiger (London/Frankfurt) as well as associates Daniela Böning and Henning Hilke (both Frankfurt). Thomas Müller (Real Estate/M&A, Frankfurt) advised on the acquisition.