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Sub practice
Sub practice

Real Estate Finance and Workouts

Our German Real Estate Finance (REF) practice, consisting of German and English law qualified lawyers, is the leading REF practice in Germany.

We act on all aspects of real estate finance, including mortgage loans, both senior and mezzanine origination, loans to be refinanced by German covered bonds (Pfandbriefe), development finance, project and infrastructure finance, real estate structured finance as well as MBS origination and securitisation, portfolio deals, sale and lease-back structures, share and asset deals, loan sales (especially non-performing loans) and investment fund structures.

A further focus of our REF practice is on the restructuring of deals in the real estate sector, in particular CMBS restructurings and workouts. Our integrated team is highly specialised and combines structured finance know-how with an in-depth knowledge of related insolvency issues.

Our REF practice is an integral part of our Alternative Investments Group. As such, we contribute asset expertise and market intelligence in real estate finance for all our clients which invest in alternative asset classes. A particular focus lies on seamlessly combining our finance advice with advice on regulatory, tax and corporate law aspects.

Clients

As real estate finance experts, we have experience advising lenders as well as borrowers on both national and cross-border transactions. Our clients include leading Pfandbrief banks, international credit institutions, insurers and pension scheme providers, as well as institutional investors, private equity firms, housing companies, asset management firms, real estate developers and real estate funds. In the field of Alternative Investments, we act for clients including infrastructure funds and private equity funds, asset managers, banks, hedge funds, insurance companies and pension funds, as well as companies and corporate groups whose activities focus on alternative assets.

News and insights

Panoramic view of the Berlin skyline including The Berlin Wall Memorial

Publications: 12 January 2022

Germany: future trends and challenges for the real estate market 2021/2022

In this video, Allen & Overy Partners Jochen Scheel and Christian Hilmes discuss the key trends they have seen develop in the German real estate market including the building investment pressure, the…

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people in shopping mall

Publications: 12 January 2022

German Federal Court of Justice ruling: no blanket rent cut for pandemic-related business closures

With its ruling passed on 12 January 2022, the German Federal Court of Justice (Bundesgerichtshof; BGH) upheld the appeal brought against the judgment passed by the Higher Regional Court…

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front of appartment houses against blue sky

Publications: 25 November 2021

The new coalition agreement in Germany is in place - What are the likely effects for the real estate industry?

The 177-page coalition agreement of the three parties set to form the new government in Germany provides for numerous innovations in the German real estate sector. In future, building and housing is…

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residential property

Publications: 12 November 2021

BVerwG: The principle of social conservation is not boundless – Exercising municipal pre-emptive rights in Berlin

With its ruling passed on 9 November 2021, the German Federal Administrative Court (Bundesverwaltungsgericht; BVerwG) has put the brakes on the increasingly popular practice among local authorities…

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Recognition

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Real estate finance germany

Our Real Estate/Real Estate Finance practice in Germany

Our Real Estate practice in Germany brings together lawyers from across Allen & Overy’s practice groups with particular involvement from our real estate, real estate finance, private equity/corporate, tax, securitisation, capital markets, litigation, public law, investment funds and restructuring groups. 

Alternative Investments Group

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Our expertise

Today, alternative investments have become an integral part of institutional investor portfolios. Our Alternative Investments Group pools all the necessary expertise and supports you in your investments on a global scale.