EUR 85 million acquisition financing for NAS Invest

Our client purchased the landmark SpreeTurm office tower with a lettable area of around 13,500 sqm in March 2019 from a project developer in the form of a forward deal. Until completion of the building in August 2020, the purchaser’s asset management assumed responsibility for the letting process and improved the preletting rate to around 80%. Closing of the Core transaction took place in October 2020.

In the context of senior purchase financing, the main challenge was to manage the complex structural and company law issues between the parties. Despite the very short timeframe before the proposed financial closing, the transaction and financing-relevant contracts were concluded on time and to the satisfaction of all parties involved.