Dentons’ Global Real Estate team advised AFI Europe Group on a new credit facility agreement with Deutsche Pfandbriefbank AG (pbb) for a €74.5 million refinancing of an existing loan by Deutsche Bank financing AFI’s German portfolio. The transaction involved AFI’s entire portfolio of more than 30 properties of residential, retail, hotel and mixed-use spread throughout 10 German cities.
Dentons put together a team experienced in major real estate finance transactions led by Partner Oren Harpaz and assisted by Counsel Nir Assido, both working from Dentons’ Frankfurt and Warsaw offices.
Oren Harpaz said: “Following our continued representation of AFI Europe in a number of transactions in various jurisdictions across Europe, this was the first time we have acted for this client in Germany. We are pleased to have expanded our representation of AFI now also to the German market and to have contributed over years to building and succeeding in their business in Europe.”
Nir Geva, AFI Europe’s General Counsel said: “We are delighted to complete this transaction which is another important step in the implementation of AFI Europe's strategy and success, and which demonstrates our strong relationship and partnership with our financing institutions. Once again we have benefitted and gained added value from Dentons’ strong global capabilities and from the great work of the team led by Oren Harpaz.”
Earlier this year, Dentons represented AFI Europe on the refinancing of Business Park Varna in Bulgaria and on the €220 million refinancing of AFI Palace Cotroceni in Bucharest, Romania, which was the largest scale financing transaction in the region during the last few years.