BCLP advises LBBW and pbb on €200-million project financing in Düsseldorf

International law firm BCLP has advised Landesbank Baden-Württemberg (LBBW) and Deutsche Pfandbriefbank AG (pbb) on the senior financing of the development of PANDION AG's OFFICEHOME RISE office property in Düsseldorf-Unterbilk, with a project value of €200 million euros.

The office property has a leasable space of approx. 36,000 sqm and is scheduled for completion by mid-2025. The owner and developer of the property is the owner-managed Cologne-based real estate company PANDION AG, which plans, realizes and sells high-quality residential and commercial projects in Cologne as well as in Bonn, Düsseldorf, Munich, Berlin and Stuttgart. PANDION AG has also issued project-related subordinated debt security, subscribed to by a company managed by Collineo.

LBBW, Germany's largest Landesbank (a government-owned regional bank), and pbb, one of Europe's largest specialist banks for commercial real estate financing, are leading providers of financing solutions for companies in the real estate industry.

Frankfurt partners Frank Schwem and Dr. Torsten Pokropp led this transaction. They were supported by Constantin Alfes (Counsel, Real Estate Finance), Heiko Stoll (Partner, Frankfurt, Tax), Tony Sparing (Senior Associate, Frankfurt, Real Estate Finance), Katherina Diamantopoulou (Associate, Frankfurt, Real Estate Finance), Dr. Zsuzsanna Somogyi-Csizmazia (Associate, Frankfurt, Real Estate Finance) and Romy Damm (Paralegal, Frankfurt, Real Estate Finance).