Peach Property Group secures growth financing
With a team led by Frankfurt-based partner Thomas K. Schrell, the business law firm of Heuking Kühn Lüer Wojtek advised a bank consortium led by Kreissparkasse Biberach as arranger on a consortium loan for Peach Property Group of up to EUR 60 million. The group is an investor specializing in portfolio management in Germany, focusing on residential properties. The growth financing serves to supplement the usual mortgage loans in the acquisition of real estate portfolios.
Some EUR 30 million were provided initially. During the group's progressive portfolio expansion, the option exists to expand the agreed loan volume to up to EUR 60 million. Peach Property Group intends to use the additional funds to acquire residential properties in Germany and to further expand the number of residential units in the portfolio. Since the beginning of the year, the number of residential units has already increased by more than one third to a total of 4,243.
Peach Property Group AG, listed on SIX Swiss Exchange, is headquartered in Zurich and has its German head group office in Cologne.
Counsel to Banking Consortium
Heuking Kühn Lüer Wojtek:
Thomas K. Schrell, LL.M.,
Anja Harms (both Banking & Finance), both Frankfurt
Lukas Wyss, Walder Wyss Ltd.