International law firm Bryan Cave Leighton Paisner LLP (BCLP) has comprehensively advised borrower AEW on the refinancing of the office project 'New Eastside' in eastern Munich. UniCredit Bank GmbH acted as the financing credit institution. The law firm's legal advice encompassed both the negotiation and the successful execution of the financing agreement.
The commercial property was completed in 2021 and combines the character of historic industrial architecture with modern, flexible working environments. Spanning a total area of around 23,000 square metres, the building offers contemporary office accommodation for innovative companies. Generous ceiling heights and landscaped courtyards define the architectural appearance of the site.
Sustainability profile and features
A central element of the scheme is its sustainable building concept. Alongside high energy efficiency, the property holds LEED Gold certification. The building complex therefore meets key requirements for future-proof office properties and aligns with the ongoing trend towards sustainable financing for prime commercial assets in established German markets.
- —Around 23,000 sq m of modern structured office space
- —Completion of the project in 2021
- —Certification according to the LEED Gold sustainability standard
- —Combination of historic industrial character, high ceilings and landscaped courtyards
Advisers and project leads involved
Frank Schwem, partner at BCLP in Frankfurt am Main, stated upon closing that 'New Eastside' was an outstanding example of how sustainable and future-proof office properties are shaping the Munich market. He added that it had been a pleasure for the firm to support AEW on this financing project.
The BCLP advisory team was led by partner Frank Schwem and included counsel Tony Sparing and senior associate Katerina Diamantopoulou, all from the Real Estate Finance practice in Frankfurt am Main. On AEW's side, Timo Wagner and Maximilian Möller were responsible for handling the financing.
