Berlin Land Bank (Berlin)
200,000 sm land over 2 sites in Berlin
A mezzanine loan for two development sites purchased by a long-term investment partner gives Fund III a new type of indirect exposure to Berlin’s growing residential and commercial property markets. The loan package agreed in June 2015 helped finance the purchase of more than 20 hectares of land, the bulk of which is on one site in the affluent suburb of Westend/Grunewald. After re-zoning, ASG’s partner will develop a mixture of residential and commercial units on the 16-hectare site.
ASG swiftly provided a simple, straightforward financing package that enabled the partner to acquire the sites.
Portfolio: Fund III
23,000 sm class A office building
6,185 sm office repositioning in Madrid
2,400 sm retail repositioning in Madrid
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