Instone Real Estate Group AG reorganizes financing – New syndicated credit line for EUR 84 million

With a Frankfurt-based team led by Partner Thomas K. Schrell, business law firm Heuking Kühn Lüer Wojtek advised a lender consortium under the leadership of Sparkasse Hannover on the granting of working capital financing to Instone Real Estate Group AG.

The new credit facilities totaling EUR 84 million and additional loan agreements (including a promissory note) serve to secure the residential real estate developer’s long-term growth strategy on a sustainable basis. In addition to an extension option (3+1+1), it will be possible to increase the loan commitment under the working capital line by EUR 36 million to a total of up to EUR 120 million.  Along with the repayment of existing liabilities to banks, the property developer will now have access to substantial liquidity to finance working capital requirements (including project developments and acquisitions) and to grant internal group loans.  Overall, the new financing structure offers Instone significantly more flexibility at attractive terms.

Counsel to lender consortium
Heuking Kühn Lüer Wojtek:

Thomas K. W. Schrell, LL.M. (Lead, Banking & Finance), Frankfurt
Anja Harms (Banking & Finance), Frankfurt

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