EUR 85 million acquisition financing for NAS Invest

SpreeTurm Berlin

The property

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.

Facts & figures

Property name SpreeTurm
Address Am Postbahnhof 17 in 10243 Berlin
Submarket Mediaspree
Asset class Office
Year of construction 2020
Lettable area 13,500 sqm
Owner NAS Invest
Activities Purchase financing: sourcing & execution
Mandate period Q3 – Q4 2020

The challenge

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.

The tools

Business Plan

Financing memorandum

The result

Building value: The positive results from real estate finance for SpreeTurm

Slider4 Spree Turm Oceansandcompany
    • Successful conclusion of EUR 85 million senior purchase financing with a German mortgage bank
    • Our client was able to secure attractive financing conditions at a fixed interest rate