LSF5 German Investments II L.P., Delaware, and LSF5 Riverside Ltd. & Co. KG, Frankfurt am Main, two companies of the Lone Star group, have fully sold Düsseldorfer Hypothekenbank AG to an international group of buyers around a fund, managed by Attestor Capital LLP, and Dr. Patrick Bettscheider.
The purchase agreement is subject to approval by the supervisory authorities.
Düsseldorfer Hypothekenbank is a German Pfandbriefbank founded in 1997 and located in Düsseldorf. As a specialist in commercial real estate financing, the Bank focuses on the needs of domestic and international professional real estate investors. The Bank’s core markets are Germany, the Netherlands and metropolitan areas in France and Spain.
Under the management of the Lone Star companies, which took over the Bank in 2010, Düsseldorfer Hypothekenbank has established itself as a reliable partner in direct business with commercial real estate investors for financing investments in completed property (single names and portfolios). The Bank finances the asset classes residential properties, offices, retail, hotels, logistics and parking with a volume in the range of 10 to 50 million euros. In addition to direct lending, the Bank also engages in syndicated loans with other lenders. The real estate activities are mainly funded via the issue of Mortgage Pfandbriefe.
Attestor is an investment company based in London, currently managing about 1.5 billion US dollars for its investors.
The new owners will continue the current business model and consequently provide the Bank, its clients and its business partners with a long-term perspective in the commercial real estate financing business.
Source: Dusseldorfer Hypothekenbank