News

15. December 2014

SUMMIT GERMANY refinances two portfolios

DG Hyp and HSH Nordbank have refinanced two Summit Germany portfolios. The seven-year loans total €240mn at 2.35% interest and LTV ratios of 70% and 65%. DUKAP  structured the transaction and procured funding for the Summit group.

The loans were initially to run until 2017. The larger portfolio (“Clara,” €152mn) holds 30 properties from Summit subsidiary and former Goldman Sachs company Deutsche Real Estate AG. The smaller portfolio comprises 54 properties. In total, the office, retail, and logistics properties have an area of 580,000 sqm.

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7. December 2014

DUKAP successfully completes restructuring of several French companies

DUKAP has helped a larger Southern-German company to stop loss making for its seven production subsidiaries in France after several years and generate positive cash flows again.

DUKAP acted for nine months as interim manager for the French subsidiaries during this restructuring process and implemented the respective restructuring measures.

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15. November 2014

DUKAP acts as refinance advisor for TecDAX company

November 2014 – A TecDAX company has successfully secured new financing after a pool-funding situation. The structure of the financing has been significantly improved and stabilized with this. DUKAP acted as advisor for the board of directors regarding the new financing concept, seeking investors and negotiating with potential lenders.

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15. December 2012

GSG – ORCO refinancing process finalized

Download the official press release by Orco Property Group

December 2012 – Gewerbesiedlungs-Gesellschaft mbH (GSG) has paid off the totality of the outstanding loan from The Royal Bank of Scotland plc. (RBS) amounting to EUR 281.9 million. This was made possible by the drawing of a new loan with a total volume of EUR 269.6 million with five German banks: DG HYP, consortium lead, Coreal Credit Bank AG, Düsseldorfer Hypothekenbank AG, HSH Nordbank AG and Investitionsbank Berlin. The new loan has a term of five years and an interest service lower by 2 percentage points than the initial RBS loan. The agreement stipulates a mortgage collateralisation of the loan, a minimum capex spending commitment as well as quarterly amortization, which will reduce the company`s LTV based on the current company valuation to approx. 55% in 2017. In the context of the preparation and realisation of the refinancing, GSG has been advised in terms of financing issues by DUKON Deutsche Unternehmenskapital (predecessor company of DUKAP) and Rothschild, in terms of legal issues by Gehrke Zumbroich & Partner and Salans LLP.

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