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16 Feb 2011 14:10
Eversheds advises on a EUR 208 million property refinancing deal
The Munich office of international law firm Eversheds has advised Bayerische Landesbank as the arranger, lender and security agent on a EUR 208 million refinancing deal.
The financing package has been granted to property investor the Immeo Group to refinance a CMBS financing of a residential property portfolio of more than 6,100 units located in North-Rhine-Westphalia, Germany. Immeo Group, one of Germany’s leading residential property companies, is part of the French property group Foncière Développment Logements.
The Eversheds team was led by partner Thomas Ziegler, who was assisted by Sandra Hofmann (Banking) and Bernd Früchtl (Tax). Partner Alexander Niethammer advised on the commercial aspects of the deal.
Thomas Ziegler commented:
“We are extremely pleased to have advised Bayerische Landesbank on this latest refinancing deal. The transaction marks a milestone in the refinancing of CMBS financed property portfolios, a sector which we expect to grow in the years to come.”
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