Global law firm Dentons has advised international real estate company Hines on the financing of the first phase of the development of the “KÖ 37” real estate project in Düsseldorf. Hines and its joint venture partner, a German pension fund, are refinancing the project with Helaba Landesbank Hessen-Thüringen.
Acquired at the end of 2020, KOE37 is located at the site of the former Commerzbank building at Königsallee 37. The property measures over 7,000 square meters and is located in the center of Düsseldorf with an almost 70-meter frontage to the well-known Königsallee. The plan is to develop a modern, highly flexible and ecologically optimized office and commercial building complex, which will be planned and implemented with a clear commitment to ESG criteria. In addition to the building-specific planning, the integration of urban mobility and logistics will also play a key role.
“The successfully completed refinancing confirms our strategy of investing emphatically in robust prime locations. On the basis of the stable financing, we can press ahead with the architectural competition currently underway and the development of the site into a high-quality, modern quarter optimized according to ESG criteria,” says Benjamin Biehl, Managing Director Hines Düsseldorf.
