BCLP advises ING Germany on the green loan financing of a student housing asset in Spain

BCLP has advised ING on the provision of a €30.8 million green loan financing with a term of five years, for the acquisition of Palm Studios, a student housing asset “ in Seville, Spain, by DWS.

The asset comprises 544 beds and 111 parking spaces. Due to its sustainable credentials, it qualifies as a green loan complying with ING’s strict selection criteria.

ING is the third largest bank in Germany and one of the top five largest real estate banks in Europe.

Kilian Zacher, Head of ING’s Real Estate Sector Coverage Team in Germany, said: “The combination of a high-quality asset, prime location and an excellent sustainability profile makes this transaction particularly valuable – both for DWS and ING. We are proud to have won this financing transaction thanks to ING’s pan-European presence, – close to the client and close to the real estate asset. We are extremely thankful to DWS for the trust they put in ING and happy to have further expanded our multi-country partnership. We also sincerely thank our legal advisors at BCLP, Constantin Alfes and Torsten Pokropp, for their trust, expertise and the excellent cooperation throughout this successful transaction.”

The BCLP team was led by Partner Dr Torsten Pokropp (Real Estate Finance) and Counsel Constantin Alfes (Real Estate Finance), supported by Partner Heiko Stoll (Tax) and Transaction Manager Romy Damm.

At ING, the Deal team consisted of Kilian Zacher, Nico Schönemann, Etienne Joudon, Martina Goebel, Mikhail Ishkhanov and Nidhi Sharma.