Deutsche Hypothekenbank-Led Consortium’s Financing of Four Construction Phases of Heidestrasse Urban Quarter

Noerr advised the consortium on the deal.

A mixed consortium of banks and an insurance company led by Deutsche Hypothekenbank (Actien-Gesellschaft) announced the financing of four construction phases of the Heidestrasse urban quarter. The total amount being financed is over €296m.

This project development is the first to be financed with the involvement of an insurance company. In addition to Deutsche Hypothekenbank (Actien-Gesellschaft), DZ HYP AG and Volksbank e.G. – Die Gestalterbank Offenburg/Villingen, the consortium also includes health insurer DKV Deutsche Krankenversicherung AG (Ergo).

The development of the Heidestrasse urban quarter, which is being managed by Taurecon, Drees & Sommer and Aggregate, is currently one the largest construction sites in Germany. A new urban quarter is being created in the heart of Berlin, consisting of a total of seven construction phases. The urban quarter combines residential and office buildings, commercial space, public streets, squares and green spaces with cafés, restaurants, a hotel, a daycare centre and a local shopping centre.

The four financed construction phases (“Spring”, “Colonnades”, “Straight” and “Crown II”) together comprise 72,383 m² of residential, office and commercial space and are scheduled for completion in 2023.

Taurecon Real Estate Consulting GmbH designed the Quartier Heidestrasse for the owner and coordinated the entire project development process.

The Noerr team was led by Andreas Naujoks (Picture) and Doreen Pape and further included Dr Karsten Fink, Clemens Schönemann, Madita Gosch, Hanna Pirlich, Ines Coenen, Dr Dan Schilbach, Georg Edelmann, Dr Michaela Engel and Ulrike Sommer.

Involved fees earner: Ines Coenen – Noerr; Georg Edelmann – Noerr; Michaela Engel – Noerr; Karsten Fink – Noerr; Madita Gosch – Noerr; Andreas Naujoks – Noerr; Doreen Pape – Noerr; Hanna Pirlich – Noerr; Dan Schilbach – Noerr; Clemens Schönemann – Noerr; Ulrike Sommer – Noerr;

Law Firms: Noerr;

Clients: Deutsche Hypothekenbank AG; DKV ; DZ HYP AG; Volksbank eG – Die Gestalterban;

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Federica Tiefenthaler

Author: Federica Tiefenthaler