Next Generation Partners

Rising Stars

Real estate finance in Germany

A&O Shearman

A&O Shearman‘s team is led by Olaf Meisen and comprehensively advises on large-volume transaction with frequent cross-border ties; the expertise covers all aspects of real estate financing, such as gap financing, mezzanine financing, preferred equity financing and distressed investments. Traditionally, the practice assists on the lender side, including banks as well as German and international asset and investment managers, insurance companies and funds. Stefan Kuhm is well versed in financing instruments such as mortgage loans and also covers structured financing and restructuring; the latter saw a recent increase in support. Regulatory capacities pertaining to real estate funds and ESG-related matters were strengthened with the addition of Dorothee Atwell from Pinsent Masons Rechtsanwälte Steuerberater Solicitors Partnerschaft mbB in May 2023.

Practice head(s):

Olaf Meisen

Other key lawyers:

Stefan Kuhm; John Coburn; Dorothee Atwell

Key clients

DekaBank Deutsche Girozentrale


Ärzteversorgung Westfalen-Lippe

Landesbank Hessen-Thüringen Girozentrale (Helaba)

Landesbank Baden-Württemberg (LBBW)


Société Générale

Vonovia SE

Work highlights

  • Advising Vonovia SE as sponsor and borrower in connection with various credit facilities of Berlin Hyp, Bayerische Landesbank, Caixa Bank SA and Landesbank Baden-Württemberg.

Clifford Chance

Clifford Chance is instructed by both lenders and borrowers, which benefit from the close cooperation with the real estate team as well as capacities at the intersections with banking, capital markets and tax law. The team's mainstays include cross-border financing, structured finance transactions, which are often handled by Beda Wortmann and practice head Tobias Schulten, as well as refinancing, bonds and securitisations and, increasingly, alternative financing.

Practice head(s):

Tobias Schulten

Other key lawyers:

Melissa Staunton; Beda Wortmann


‘Tobias Schulten: Excellent advice; very high level of expertise in complex financing contracts; very good negotiation skills.’

Key clients


Kohlberg Kravis Roberts & Co L.P.

NATIXIS Pfandbriefbank AG

Goldman Sachs Bank USA


Exeter Europe Industrial Core HoldCo S.a.r.l.

Work highlights

  • Advising COLCAP on the financing of the sustainable building complex EDGE Suedkreuz Berlin.

  • Advising Kohlberg Kravis Roberts & Co. LP as lead arranger on the refinancing of several real estate companies in connection with a real estate portfolio and the acquisition of several properties.

  • Advising Exeter Europe Industrial Core Holdco S.à rl on the refinancing of the ongoing acquisition of some industrial properties in Germany as part of a Europe-wide refinancing of portfolio debt.

Greenberg Traurig Germany

Greenberg Traurig Germany comprehensively advises on acquisition and development financing as well as financial restructuring, covering all real estate sectors, including office, retail and industrial. The team is instructed by both borrowers and lenders, which the team assists with bond agreements, refinancing, mezzanine structures and overall loan financing and also benefit from the firm's international network in cross-border transactions. Both Anika Mitzkait and practice head Claudia Hard boast similar competencies; Hard also has expertise in bond financing and distressed investments, while Mitzkait is well versed in real estate law.

Practice head(s):

Claudia Hard

Other key lawyers:

Anika Mitzkait


‘Very good transaction-related cooperation and competent advice in combination with solution orientation.’

‘Claudia Hard, as the responsible partner, is available and easy to contact at short notice at any time. Very pleasant cooperation.’

‘The team led by Claudia Hard uniquely combines banking and financial law with in-depth real estate law know-how. Paired with the solution-oriented approach, clients receive pragmatic and solution-oriented advice.’

‘In my opinion, Claudia Hard and Anika Mitzkait are the key members of the team. They both demonstrate client orientation and commitment and their work is characterized by solution-oriented advice, not just pointing out the clients’ problems.’

‘The real estate financing team acts quickly, reliably and seems to be very well coordinated. The technical skills are above average and always practice-oriented. Due to the size and internationality of the law firm, cross-practice is also available at short notice.’

‘Claudia Hard: Assertive, very intelligent and open negotiating partner who always has the client’s interests in mind and always argues objectively and well-founded. Personal collaboration is always very pleasant, even in very complex and time-critical transactions.’

‘Experienced lawyers, quick processing, concise work, legally correct.’

‘Very innovative and competent lawyers for all real estate issues.’

Key clients

LINUS Digital Finance

pbb Deutsche Pfandbriefbank AG


Dream Industrial REIT




Berlin Hyp AG

Tristan Capital Partners

Pinebridge Benson Elliot

Hanse Merkur


EDGE Technologies


Work highlights

  • Advising Peakside on the financing of the acquisition and development of the ‘Hessischer Hof’ in Frankfurt am Main by Hamburg Commercial Bank, a luxury hotel that was closed during the Covid-19 pandemic and is to be renovated and repositioned in the upper luxury segment.

Ashurst LLP

Ashurst LLP focuses on advising banks, debt funds and private equity houses on mezzanine financing structures, practice head Filip Kurkowski regularly takes the lead here; his team also comprehensively covers the entire spectrum of traditional financing instruments, including mortgage financing, as well as structured financing, such as senior structures and bonds. The latter areas are among the competencies of Derk Opitz, who has additional expertise in interfacing project financing matters; this expertise was recently increasingly called upon in connection with project developments. The practice covers all asset classes, including office, residential and commercial properties.

Practice head(s):

Filip Kurkowski

Other key lawyers:

Derk Opitz


‘Filip Kurkowski: approachable, likeable, perceptive, pragmatic, solution-oriented.’

‘Filip Kurkowski is a very reliable, knowledgeable and committed partner. We have worked with him regularly over the past few years and will continue to do so.’

‘Filip Kurkowski is an extremely good lawyer for real estate financing law, especially for alternative financiers. He gets the best out of complicated negotiations for his clients.’

Key clients

Berlin Hyp

BNP Paribas


Flins Capital

ING Bank

Prime Capital

Societé Générale

Work highlights

  • Advising Socíété Générale in connection with the granting of a loan totaling approximately €61 million to finance the acquisition of commercial real estate at various locations in Germany.

  • Advising a fund managed by Prime Capital AG on the purchase financing of a property in Frankfurt am Main, which is to be realigned as part of a project development, as well as on the subsequent extension. Prime Capital acted as arranger of various tranches with a total volume of €130 million.


CMS advises debt funds, insurance companies, real estate funds and banks on syndicated loan agreements, mezzanine capital, portfolio financing and in connection with project developments, including interfacing tax law matters. Advising on real estate financing in the project development context is a particular strength of the team. Recently, ESG topics such as key performance indicators (KPIs) and advice on financing restructuring matters have also played an increasingly important role. André Frischemeier is a key contact for the latter, he jointly heads the team with Kerstin Block (acquisition, project and asset financing).

Practice head(s):

Kerstin Block; André Frischemeier

Other key lawyers:

Markus Pfaff; Marc Seibold

Work highlights


Noerr focuses on acquisition financing in connection with ESG-related performance indicators and is regularly instructed by banks, sponsors and other financial institutions. Most recently, the team advised on senior, mezzanine and bridge financing as well as refinancing and joint ventures in the real estate sector, frequently in connection with the construction of logistics centers, although the team covers various asset classes. Practice head Andreas Naujoks routinely assists with national and international financing transactions and has experience in corporate financing and restructuring. Counsel Doreen Pape (real estate and acquisition financing, corporate finance) is another key contact.

Practice head(s):

Andreas Naujoks

Other key lawyers:

Karsten Fink; Doreen Pape; Dorian Legel

Key clients

A&T Alpha |Credit SA

Ara Venn Fonds


Berliner Hypo

Berliner Sparkasse

Caerus Debt Investments



ING Bank



NordLB/Deutsche Hypo

Peach Property Gruppe

Postbank- eine Niederlassung der Deutsche Bank AG

Prime Capital Access

TAG Immobilien AG

Work highlights

  • Advising a banking consortium on the construction of a district consisting of ten building plots with diverse uses for different target groups and generations with around 128,800m² of rental space.

  • Advising a banking consortium consisting of NordLB, Commerzbank, Landesbank Saar, Sparkasse Bremen AG, Sparkasse Hannover, Stadtsparkasse München and Airbus Bank on the valuation of the T2 financing completed in 2019 (part of the overall project The Four by Groß & Partner in Frankfurt).

  • Advising TAG Immobilien AG on a €200 million capital increase with subscription rights and on the extension of the bridge financing.

Norton Rose Fulbright

Norton Rose Fulbright's real estate finance team is integrated into the real estate practice led by Maren Stölting and thus comprehensively advises both lenders and borrowers on financing-related issues, such as real estate, tax and environmental law; clients also benefit from the frequent cross-location cooperation thanks to the international network. Andrea Spellerberg comprehensively covers credit financing matters, while Stefan Schramm is well versed in structured financing.

Practice head(s):

Maren Stölting

Other key lawyers:

Veit Sahlfeld; Stefan Schramm; Andrea Spellerberg; Bernhard Fiedler


‘Smooth communication within the team. Instantly available in urgent scenarios.’

‘Perfectly balanced and well-coordinated team.’

‘Extremely goal and solution-oriented. Pragmatic solutions based on in-depth know-how.’

‘Quality is particularly evident in difficult negotiations and emerging problems; they always find solutions.’

‘High problem-solving skills, factually sound and targeted advice. Norton Rose is highly recommended.’

‘Bernhard Fiedler is an absolute industry expert, always pleasant and easy to contact. Fast processing and feedback. Other teams will be brought in if necessary for special topics.’

Key clients



Bayerische Landesbank GmbH

BNP Paribas Real Estate Investment Management

Europäische Investitionsbank

Hamburg Commercial Bank (HCOB)


HYPO NOE Landesbank für Niederösterreich und Wien AG



LCN Capital Partners


Obotritia Capital

Real I.S. AG

Savills Investment Management

Standard Chartered Bank

Swiss Life


UniCredit / Wealthcap

Union Investment

Work highlights

  • Advising various funds managed by Invesco in connection with numerous real estate financing, refinancing and restructuring of various assets.

  • Advising a German initiator and manager of real estate funds with regard to the restructuring of its loan portfolio consisting of more than 120 loans in ten jurisdictions.

  • Advising the Bayerische Landesbank in connection with the refinancing of the listed Alte Akademie in Munich.

Taylor Wessing

Taylor Wessing's team cooperates closely with the firm's other practices, including real estate, tax and investment law, and assists both lenders and borrowers with acquisition financing and refinancing. The practice is led by Clemens Niedner (acquisition financing and restructuring) and also advises on project developments across all asset classes; this is complemented by expertise in cross-border matters. Salary partner Jennifer Maiworm is another key contact and comprehensively advises on national and international banking and finance law.

Practice head(s):

Clemens Niedner

Other key lawyers:

Hauke Bornschein; Jens Wiesner; Peter Seemann; Jennifer Maiworm


‘Highly professional legal advice. Incredible experience built up over generations of lawyers, pragmatic legal advice, special ability to respond to highly individual situations and to think and act outside of the box.’

‘Peter Seemann is an extremely experienced financing expert who understands how to develop highly individual solutions pragmatically and efficiently and implement them reliably.’

‘Good availability and a strong team in the background.’

‘In-depth legal advice, efficient and very high-quality work, practical solutions in the client’s interests and negotiation and coordination skills in order not to lose sight of the essential legal issues in the interests of all parties and to reach a conclusion quickly.’

‘Jens Wiesner: Outstanding transaction support, which is characterized above all by a quick, high-quality and efficient way of working, with great negotiating skills and a good instinct for negotiating practical solutions in the client’s interests.’

Key clients


Hamburg Commercial Bank AG

Covivio Immobilien SE

Helaba – Landesbank Hessen-Thüringen Girozentrale

NATIXIS Pfandbriefbank AG


HYPO NOE Landesbank für Niederösterreich und Wien AG

Bayerische Landesbank

Investec Bank Plc

Tishman Speyer

Work highlights

  • Advising Tishman Speyer on the refinancing of Quartier 205 in Berlin by Helaba.

  • Advising Hamburg Commercial Bank (HCOB) on the acquisition financing of €160 million for the International Campus Group.

  • Advising Hamburg Commercial Bank (HCOB) on all matters relating to the financing provided by the bank to the investment manager Peakside Capital in the amount of €30.9 million for the purchase and revitalization of a hotel complex, including an office building, in Frankfurt am Main.

White & Case LLP

White & Case LLP 's real estate finance team routinely cooperates with other locations and advises banks and financial institutions as well as real estate investors on cross-border financing; advising at the interface with capital markets law is a core strength. Key contacts include Thomas Flatten (real estate, acquisition and project financing), leveraged finance transactions and structured finance transaction expert Andreas Lischka and Sébastien Seele, who is experienced in mortgage-secured real estate loans, loan and bond financing as well as structured financing.

Other key lawyers:

Thomas Flatten; Sébastien Seele; Andreas Lischka

Key clients

Adler Group

J.P. Morgan

BNP Paribas

Deutsche Bank

Aggregate Holdings S.A.

Morgan Stanley

HSBC Trinkaus & Burkhardt

Work highlights

  • Advising Adler Group SA and its subsidiaries on financing commitments for a new secured debt financing of €937.5 million to stabilize the business operations and capital structure as well as on a lock-up agreement.

  • Advising Aggregate Holdings SA on the financing of the purchase of the Fürst real estate project, including follow-up advice.

  • Advising a consortium in connection with the financing of the acquisition of two data centers in Hamburg by 495.Equity Management GmbH and UNA 496.Equity Management GmbH, subsidiaries of Deutsche Beteiligungs AG.

Bryan Cave Leighton Paisner

Bryan Cave Leighton Paisner‘s real estate finance practice significantly increased its visibility in the real estate financing market since the arrival of Frank Schwem (real estate acquisition financing and construction project financing), Torsten Pokropp (real estate acquisitions) and ESG expert Martin Wilmsen from DLA Piper in 2022. The client roster includes banks, pension funds, insurance companies and debt funds, which the team advises on national and cross-border financing transactions, such as acquisition financing across all asset classes and financing in the project development context.

Other key lawyers:

Frank Schwem; Torsten Pokropp; Martin Wilmsen; Tony Sparing


‘The entire team is highly professional and socially competent.’

‘Torsten Pokropp: Excellent, professional, very hands-on, always friendly and quick response times.’

‘Martin Wilmsen is an ESG expert.’

Key clients

LBBW Landesbank Baden-Württemberg

Helaba Landesbank Hessen-Thüringen Girozentrale

pbb Deutsche Pfandbriefbank AG

FOM Real Estate

Linus Digital Finance

CBRE Global Investors

Collineo Asset Management GmbH

Union Investment


Norddeutsche Landesbank Girozentrale

Gleiss Lutz

Gleiss Lutz's finance team is integrated into the firm's wider real estate transaction team and thus covers interfacing corporate real estate, real estate finance and real estate tax matters; among the client roster are real estate investors and funds. Burkhard Jäkel (project and real estate financing) and Helge Kortz (banking, finance and capital markets law) frequently take the lead.

Other key lawyers:

Burkhard Jäkel; Helge Kortz


‘Very well coordinated team, efficient transaction management. Pragmatic approach without lacking legal rigor.’

‘Burkhard Jäkel is very experienced, he offers a solution for every problem, which is satisfactory for all parties.’

GSK Stockmann

GSK Stockmann advises both banks and investors on acquisition and project development financing; the team is experienced in the asset classes commercial and hotel as well as nursing home properties. Core competencies include the advice on mezzanine structures and joint venture agreements as well as internal banking requirements. Practice head Alma Franke is well versed in the financing of special properties such as hotels and shopping centers; Stefan Koser complements this with expertise in financing restructuring.

Practice head(s):

Stefan Koser; Alma Franke

Other key lawyers:

Rebecca Comtesse; Mechtild-Maria Siebke

Key clients

ABG Real Estate Group

abrdn Investments Deutschland AG

Alchemy Step Hotel Group

Art-Invest Real Estate

Deutsche Finance International und Cells Property Investors GmbH

DLE Living GmbH




Groß & Partner Grundstücksentwicklungsgesellschaft mbH

Lakeward Management AG

LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH

Niedersachsen Ports GmbH & Co. KG (NPorts)

Olam Food Ingredients

Oldenburgische Landesbank

Stadtsparkasse München

Work highlights

  • Advising the joint venture of ABG Real Estate Group and HanseMerkur Grundvermögen on the purchase of the main branch of Deutsche Bank.

  • Advising the Alchemy Step Hotel Group on the acquisition and financing of various hotels in Dortmund, Bochum, Schwerin and Magdeburg.

  • Advising Groß & Partner Projektentwicklungsgesellschaft mbH in connection with the financing of the FOUR project development consisting of four high-rise buildings in Frankfurt am Main.

Hogan Lovells International LLP

Hogan Lovells International LLP's real estate financing team is integrated into the firm's wider corporate & finance practice, thus covering various interfaces, including topics such as green finance and restructuring. The practice is jointly led by Katlen Blocker (banking and financial law), Dirk Debald (real estate transactions and financing) as well as Carla Luh (project financing) and advises banks, investment companies and debt funds on acquisition financing and refinancing, including mezzanine and senior financing as well as project development financing.

Practice head(s):

Katlen Blöcker; Dirk Debald; Carla Luh

Other key lawyers:

Christian Herweg; Julian Fischer; Katharina Kranzfelder


‘Very good availability, quick reactions, we felt we were in good hands.’

‘The collaboration with Christian Herweg was excellent.’

‘Very well-coordinated and experienced financing team, which also has excellent knowledge of insolvency and workout topics. Collaboration and coordination with the other teams works flawlessly and without any problems.’

‘Christian Herweg and Katharina Kranzfelder confidently lead through transactions.’

‘Experienced financing lawyers, accurate and rapid transaction processing, good knowledge of the industry.’

Key clients

Bayerische Landesbank

Cresco Real Estate

Deutsche Pfandbriefbank AG

Standard Chartered Bank

UniInstitutional Private Debt SCS SICAV-SIF

Wilmington Trust SP Services (Frankfurt) GmbH


LUWIN Real Estate


PROdelocx GmbH

Union Investment

VALUES Real Estate

Work highlights

  • Advising Deutsche Pfandbriefbank on the financing of the purchase of Schlosshof Wandsbek, an office campus measuring approximately 15,600m² in Hamburg.

  • Advising Standard Chartered Bank on the financing of a cross-border logistics portfolio with locations in Poland, Germany, France and the Netherlands.

  • Advising LUWIN Real Estate on the acquisition of the Amazon distribution center in Nuremberg.

McDermott Will & Emery Rechtsanwälte Steuerberater LLP

McDermott Will & Emery Rechtsanwälte Steuerberater LLP advises on senior, mezzanine and alternative debt capital structures and also has expertise in project development financing and leasehold transactions. Practice head Oliver Lieth and his team primarily advise borrowers, but are also instructed by lenders pertaining to financing across all asset classes, including residential and commercial.

Practice head(s):

Oliver Lieth

Other key lawyers:

Christoph Coenen; Dustin Schwerdtfeger


‘Good insight into the economic and entrepreneurial background.’

‘Working with Oliver Lieth was always very pleasant. He is very competent and always easy to contact. He responds and answers instantly. I felt very well advised and supported at all times. I also particularly liked his pragmatism.’

‘Highly professional with an outstanding solution approach and excellent legal expertise.’

Key clients

Bayiko Bamberger 38 GmbH

BE REAL Berlin S.à r.l.

Berlin, Alexanderplatz 9 Immobilien GmbH

Berlin, Passauer Strasse 1-3 Immobilien

Col REO Victoria Office A S.à r.l.

Düsseldorf, Carschhaus GmbH

DWK PropCo 1 S.à r.l.

ERI PropCo 1 S.à r.l.

Frankfurt, An der Hauptwache 1 Immobilie

Hamburg, Elbtower Immobilien GmbH & Co.


München, Bahnhofplatz Immobilien GmbH

Scannell Deutschland No. 011 GmbH

CV Real Estate AG

Work highlights

  • Advising Hamburg, Elbtower Immobilien GmbH & Co. on project development financing for the Elbtower high-rise and landmark project in Hamburg.

  • Advising München, Bahnhofplatz Immobilien GmbH & Co. on the refinancing of a sub-complex on Munich’s Bahnhofplatz.

  • Advising Scannell Deutschland No. 011 GmbH on the acquisition of land and the financing of the project development of a logistics center.