Frankfurt Office advises Kintyre on the financing of the acquisition and revitalisation of “Märkisches Quartier” in Berlin

Global law firm Norton Rose Fulbright has advised on a joint venture led by Frankfurt-based real estate group Kintyre as borrower on the financing of the acquisition and revitalisation of the Märkisches Quartier property in the German capital Berlin. This is one of the largest development financings in the entire German market in 2023 in the three-digit million range. The parties have agreed not to disclose further details of the transaction.

Two German banks are financing the ongoing development of the urban quarter by extending the existing credit facilities and granting an additional project development loan.

The Märkisches Quartier in Berlin is to be redeveloped into a vibrant urban centre with more than 86,000 square metres of retail, local amenities, healthcare, office and urban living. Edeka will be the anchor tenant as a supermarket surrounded by retail tenants and one of the largest market halls in Europe. The quarter will have a central health centre with more than 40 doctors, physiotherapists, pharmacists and a fitness studio.

Kintyre Management GmbH, based in Frankfurt am Main, was founded in 2009 and is an owner-managed and independent real estate investment and management company. Kintyre manages assets of around 1.8 billion euros.

Kintyre was advised by a Norton Rose Fulbright team led by Frankfurt partner Dr Stefan Schramm (Lead, Banking, Finance). Counsel Carolin Glänzel (banking law, finance law) also advised. The Frankfurt team was supported by partner Torsten Sauer (corporate law) from the firm's Luxembourg office.

The German banking consortium was advised by Baker McKenzie on the financing.