Helaba refinances ”Quartier 205“ for Tishman Speyer in Berlin
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Helaba refinances ”Quartier 205“ for Tishman Speyer in Berlin
Landesbank Hessen-Thüringen assumes EUR 250 million financing of this premium prime location property in Berlin
Helaba is refinancing the "Quartier 205" urban quarter in the heart of Berlin for Tishman Speyer. The EUR 250 million loan has a term of ten years and Helaba will assume full underwriting of the financing while syndicating a portion of the amount.
"Quartier 205" is a mixed-use property located between Friedrichstrasse and Gendarmenmarkt in Berlin-Mitte and has around 52,000 sqm of rental space and 484 parking spaces. Whilst two-thirds of the asset is used as office space, it was originally developed by Tishman Speyer in the mid-1990s as a building to serve as a dynamic mixed-use experience comprising working, living and shopping in the historic centre of Berlin. Infrastructure and public transport access are exceptionally good given its location right next to the Stadtmitte subway station.
Importantly, the credit facility includes an innovative social impact feature whereby the bank and the investor make a matching contribution to a selected local charity on an annual basis. This innovative partnership is the fourth of its kind for Tishman Speyer and its Tishman Speyer European Core Fund (“TSEC”), a fund promoting environmental and sustainable characteristics under Article 8 of the European SFDR regulations. It builds on numerous positive ESG initiatives undertaken by the company in recent years, seeking to make a positive societal contribution in challenging times.
Fritz Müller, Head of Real Estate Finance Germany Regions at Helaba, is delighted with the transaction: "I am very grateful for the renewed trust placed in us by our client Tishman Speyer with the financing of "Quartier 205". This deal is a confirmation of our strong and long-standing association and we see it as an endorsement of our distinctive approach to relationship banking at Helaba."
Johannes Schmarje, Managing Director overseeing Tishman Speyer’s Berlin operations said: “This refinancing extends for years to come our commitment to the Berlin real estate market where we began our activity over 25 years ago with this very building. We are grateful to Helaba for their continued support and are pleased to be reinforcing the strong and sustainable relationship we have built with them over the years.”
Tishman Speyer was advised by Taylor Wessing while Helaba’s advisors were Simmons & Simmons LLP.
Communication and Marketing Neue Mainzer Straße 52-58 GER-60311 Frankfurt am Main www.helaba.de Tel.: +49 (0) 69 / 9132 – 2192
Marco Pfohl E-Mail: marco.pfohl@helaba.de
Mike Peter Schweitzer E-Mail: mikepeter.schweitzer@helaba.de
About Helaba:
One of the leading banks in the German financial capital of Frankfurt, the Helaba Group employs approximately 6,300 people and has total assets of 212 bn Euro. It offers a complete range of financial services from a single source for companies, banks and institutional investors. A sustainable approach to business has long been firmly embedded in Helaba's business model and is also in keeping with our public service remit. The aim is to support its clients in their own transformation towards a sustainable world with a range of professional ESG advisory services and tailor-made financing solutions. Helaba provides innovative, high-quality financial products and services for the Sparkassen. It serves as the Sparkasse central bank for Hesse, Thuringia, North Rhine-Westphalia and Brandenburg, making Helaba a strong partner for some 40 percent of Germany’s Sparkassen. Helaba is also the regional market leader in retail banking through its subsidiary Frankfurter Sparkasse and has a presence in direct banking through 1822direkt. Landesbausparkasse Hessen-Thueringen, Helaba’s independent home loans and savings division, uses the Sparkassen as sales partners and is the market leader in both Hesse and Thuringia. WIBank, which comes under Helaba’s Public Development and Infrastructure Business unit, supports development programmes for the State of Hesse. Helaba also engages in many areas of public life by sponsoring ground-breaking cultural, educational, environmental, sports and social projects.
About Tishman Speyer:
Tishman Speyer is a leading owner, developer, operator and investment manager of top-tier real estate in 32 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential, industrial, and retail spaces for industry-leading customers, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers’ evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 505 properties, totaling 218 million square feet, with a combined value of over $124 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.