Construction project worth billions in Dresden: ARNECKE SIBETH DABELSTEIN advises on financing for GERCHGROUP
Dresden / Frankfurt / Munich, 24. Nov 2020 – GERCHGROUP AG, a Germany-wide project developer based in Düsseldorf, has purchased a site in Dresden close to the Semper Opera, the Zwinger and the Frauenkirche and plans to develop a new quarter there. The financing of the multi-billion “Quartiere am Blüherpark” project has been secured, with Helaba making a significant contribution by assuming a substantial share of the investment volume as senior financier. In addition, Collineo Asset Management is providing mezzanine capital for the financing of the land purchase and the development of the quarter through a company managed by it.
International law firm Taylor Wessing, led by Hamburg partner Dr Jens Wiesner, provided legal advice to Helaba on the financing. DLA Piper acted for Collineo under the lead of Eike Neugebauer. ARNECKE SIBETH DABELSTEIN, led by Dr. Nadejda Kysel, advised GERCHGROUP AG.
In addition to predominantly residential use, retail and office space is also being created in a prime location with excellent infrastructure links. The approximately 100,000 square metre site between Grunaer Straße, St. Petersburger Straße and Blüherstaße is spread over four project parts with different construction phases. Planning permission has already been granted for one construction site. The development plans for the other construction areas are being drawn up in cooperation with the city.
As one of the largest commercial banks in Germany, Helaba offers comprehensive financial services from a single source to companies, banks, the public sector as well as commercial real estate and institutional customers. The bank supports customers in their national and international activities.
Collineo is a partner-managed, independent asset manager with proven special and sector expertise in the field of real estate. Collineo offers comprehensive services in all aspects of real estate investment and financing. Collineo provides tailor-made mezzanine capital to project developers and property owners for the realisation of residential, office, hotel, retail and logistics properties or district developments.
GERCHGROUP was founded by Mathias Düsterdick (Chairman of the Board) and Christoph Hüttemann (Member of the Board) at the end of October 2015, after both had previously sold their shares in the PDI Group. GERCHGROUP is currently realising a total project development volume of around five billion euros. Further project acquisitions are imminent.
Legal advisors Helaba
Taylor Wessing: Jens Wiesner (Partner), Hauke Bornschein (Partner), Simon Dotterweich (Associate) all Banking & Finance, all Hamburg
Legal advisors Collineo
DLA Piper: Dr. Torsten Pokropp (Partner), Eike Neugebauer, Kais Torchani (all Finance, Frankfurt am Main) Dr. Martin Haller (Partner), Manuel Indlekofer, Lilian Gutkin (all Real Estate, Munich)
Legal advisors GERCHGROUP AG
ARNECKE SIBETH DABELSTEIN: Dr. Nadejda Kysel (Partner), Dr. Wolfgang Scholl (Partner), Mark Riebau, Rebecca Schulz, Anik Müller, all Frankfurt am Main