Dentons has advised Helaba Landesbank Hessen-Thüringen, pbb Deutsche Pfandbriefbank and Berlin Hyp on the €180 million loan extended to Immofinanz to replace the previous financing of the myhive Warsaw Spire project, one of the tallest modern office towers in Warsaw, Poland, with GLA of more than 71,000 sqm and a BREEAM Excellent certification.

Helaba, pbb Deutsche Pfandbriefbank and Berlin Hyp served as joint lead arrangers and provided the financing in equal parts, with Helaba acting as the facility and security agent for the transaction.

“We are honored by the trust placed in us by the lenders, allowing us to once again advise on the financing of Warsaw Spire, one of the most prestigious and iconic office buildings in Warsaw. Thanks to financial institutions active in the green finance market, numerous sustainable investments can be realized, bringing the added benefit of a lower cost of capital,” said Bartosz Nojek, Partner and Co-Head of the Banking and Finance practice, commenting on the transaction.

Bartosz Nojek oversaw the project. Jakub Zienkiewicz, counsel in the Banking and Finance practice, led the transaction with the support of Kamil Bator (associate) and Karol Ścibor (associate). Bartłomiej Kordeczka, Poland Co-Managing Partner and Deputy Head of the Real Estate practice, supervised the preparation of the due diligence report created by Karolina Kordulska-Tetkowska (associate) and Martyna Kamińska (associate).