Goodwin represented Deutsche Pfandbriefbank AG as facility agent and security agent leading a consortium of lenders, including Landesbank Hessen-Thüringen, in connection with a €432million term loan to partially refinance the debt of OFFICEFIRST Immobilien AG & Co. KG (OFFICEFIRST), a subsidiary of IVG Immobilien AG. The term loan is a key element of the whole refinancing of OFFICEFIRST and a vital part supporting IVG’s disposal of OFFICEFIRST.
Deutsche Pfandbriefbank AG and Landesbank Hessen-Thüringen are longstanding clients of Goodwin’s Real Estate Finance team.
For this transaction, the cross-border team was led by partner Dr. Stephan Kock.
Deutsche Pfandbriefbank is a leading European commercial real estate and public investment lender. It is the largest issuer of Pfandbriefe and an important issuer of covered bonds in Europe. Deutsche Pfandbriefbank AG is listed on the Frankfurt Stock Exchange.