Dentons has advised Berlin Hyp on the financing.
In addition to Berlin Hyp as lead manager, Stadt- und Kreissparkasse Erlangen Höchstadt Herzogenaurach and Sparkasse Bochum are each providing €15 million in financing.
Under the terms of the loan, a special fund of HanseMerkur Grundvermögen AG will receive a three-digit million amount with a duration of 10 years.
The “Campus am Kunstpalast” office and commercial building in the Düsseldorf district of Pempelfort was built in 2001 and will be completely refurbished in 2021. The property has 21,200 square meters of leasable space and will house the Ministry for the Environment, Agriculture, Nature Conservation and Consumer Protection of the state of North Rhine-Westphalia.
HanseMerkur is one of Germany’s oldest (since 1875) and most renowned Insurers, and a name synonymous with quality and the highest standards of service and customer satisfaction.
The Dentons’ team in Düsseldorf included Dr. Axel Schlieter (Picture; Partner, Banking and Finance), David Zafra Carollo (Partner, Real Estate, co-lead), Janina Diesem (Senior Associate, Real Estate), Dr. Tobias Bünten (Senior Associate, Corporate).
The Dentons’ team in Luxembourg included Stéphane Hadet (Partner), Yifan Zhang (Associate), both Banking and Finance
Law Firms: Dentons;
Clients: Berlin Hyp;