Complex project financing of the purchase and development of the “FÜRST” project in Berlin
Corestate subsidiary AFS (Aggregate Financial Services GmbH), which shall be operating on the market as “Corestate Bank” in the future, has financed the acquisition and development of Berlin’s FÜRST Project on Kurfürstendamm by Aggregate Holdings S.A.
- Acquisition of the FÜRST Project by Aggregate is one of the largest real estate transactions of the year
- EUR 1.02 billion financing volume for purchase and development
- AFS, which will in future operate under the name “Corestate Bank”, was the sole agent for structuring and placement
- Corestate completed the acquisition of AFS in May
Corestate subsidiary AFS (Aggregate Financial Services GmbH), which shall be operating on the market as “Corestate Bank” in the future, has financed the acquisition and development of Berlin’s FÜRST Project on Kurfürstendamm by Aggregate Holdings S.A. This is one of the largest real estate transactions of the year in Germany with a financing volume for acquisition and development of EUR 1.02 billion. AFS structured and placed the financing as the sole global coordinator and sole agent, demonstrating its capabilities. Corestate, a leading independent real estate investment management firm in Europe, completed the acquisition of AFS only two weeks before.
René Parmantier, CEO of Corestate: “The financing impressively demonstrates what Corestate is capable of delivering. The acquisition of AFS at the beginning of this year was the right strategic decision, which is already bearing fruit after such a short period of time. The market for real estate private debt offers us considerable opportunities due to the increasing regulatory requirements for banks, which we intend to and will use with the future “Corestate Bank” as a financing platform for the entire real estate life cycle.”
Sebastian Ernst, co-founder of AFS and Management Board member at Corestate: “We were able to finance the acquisition and development in one go and thus support our client very quickly and in line with their needs. This was primarily the result of combining our forces. We have entered a new dimension with this transaction.” Johannes Märklin, likewise a founder of AFS and a member of the Management Board of Corestate, added: “Structuring and placing such a complex transaction requires excellent market access to institutional investors and banks and many years of expertise. This is exactly what we and our team stand for and why we were able to act as sole agent and adviser.”
Archive
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- CORESTATE Bank arranges a financing for a mixed-use project development in Frankfurt am Main
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- CORESTATE Bank advises on an acquisition financing for a mixed-use project development in Berlin with a total volume of EUR 85 million
- CORESTATE Bank arranges a EUR 130 m bond for the acquisition of a development site in Berlin
- CORESTATE Bank arranges a financing for a residential development in Munich in the amount of EUR 21.5m
- CORESTATE Bank advised on the successful execution of the acquisition financing for a buy and hold portfolio of 10 project developments.
- CORESTATE Bank successfully supported the acquisition financing of a residential building land portfolio in the surroundings of Berlin.
- Takeover of Aggregate Financial Services by CORESTATE Capital Group completed
- Aggregate Financial Services advises a real estate fund on the refinancing of an office building in the amount of EUR 25m
- Aggregate Financial Services advises a real estate fund on the refinancing of a training and administration building in the amount of EUR 14m
- Aggregate Financial Services successfully supported the refinancing of a EUR 30 million senior tranche of an acquisition and development financing in Hamburg.
- Aggregate Financial Services is structuring and arranging construction financing in the amount of EUR 296 million for the completion of four properties in Berlin.
- Aggregate Financial Services arranges a EUR 65m subordinated secured financing for the completion of several residential properties in Berlin.
- Aggregate Financial Services advised on the successful EUR 20.8m financing for a project development in Berlin.
- CORESTATE Capital Group acquires Aggregate Financial Services GmbH
- Aggregate Financial Services arranges a short-term unsecured corporate financing for a German listed real estate company
- Aggregate Financial Services arranges a financing in the amount of EUR 38m for an office property in Frankfurt am Main
- Aggregate Financial Services structures and arranges the issuance of secured bonds in the aggregate amount of EUR 42m for the acquisition of a primarily residential portfolio located in North Rhine-Westphalia, Saxony and Lower Saxony
- Aggregate Financial Services structures and arranges the financing in the amount of EUR 25 m for acquisition of building land in the surroundings of Berlin
- Aggregate Financial Services advised on the issuance of a tap of the senior unsecured bond of Aggregate Holdings SA with a volume of EUR 100m to a total nominal amount of EUR 500m
- Aggregate Financial Services advised on the issuance of a successfully placed senior unsecured bond of Aggregate Holdings SA with a total nominal amount of EUR 400m.
- Aggregate Financial Services arranged for the extension of the maturity date for a EUR 170m financing for the development of a large quarter development in Hamburg.
- Aggregate Financial Services arranged and structured the extension of the maturity date for a EUR 130m bond financing for the construction of a multi sector development site.
- Aggregate Financial Services structures and arranges the acquisition financing in the amount of EUR 65 Mio. for the development “Merton Q” in Frankfurt am Main.
- Aggregate Financial Services arranges and structured the refinancing of the acquisition bridge financing on a medium-term basis for the area of the former Gerresheim glas factory.
- Aggregate Financial Services structured & advised on the successful EUR 200m financing for the development “Prata Riverside Village” in Lisbon (Portugal)
- Aggregate Financial Services advised on the successful EUR 20.9m bridge financing for a project development in Frankfurt/Main.
- Aggregate Financial Services advises in relation of the takeover of a German listed real estate company and the implications of the change of control on their EUR 4.8 billion loan portfolio.
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- Aggregate Financial Services advised on the successful EUR 170m financing for the development “Holsten Quartier” in Hamburg.
- Aggregate Financial Services advised on the successful EUR 18m financing for the development “Mariannenpark” in Leipzig.
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- Aggregate Financial Services advised on the successful EUR 148.5m financing for the development of condominiums on the “Wilhelm” property in Berlin.
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- Aggregate Financial Services successfully advised on the succesful EUR 560m construction financing for Quartier Heidestrasse in Berlin.
- Aggregate Financial Services advised on the issuance of a successfully placed senior secured corporate bond (Senior Secured Notes) of CONSUS Real Estate AG with a total nominal amount of EUR 400m.
- Aggregate Financial Services advised on the successful EUR 50m bridge financing for a commercial development in a prime location in Frankfurt/Main.
- Aggregate Financial Services advised on the successful EUR 40m financing for the the acquisition of a property in Hamburg.
- Aggregate Financial Services advised on the successful EUR 8m acquisition financing for a property in Kiel.
- Aggregate Financial Services advised on the successful EUR 56.5m financing for the development of a hotel and office building in Berlin.
- Aggregate Financial Services has advised Consus Real Estate AG successfully on the acquisition of SSN Group AG