ORCO-GSG in a Structural Optimisation of the €400m Real Estate Portfolio

Posted: 6th December 2013 09:37

Gehrke Zumbroich & Partner has advised GSG Asset Gmbh & Co. Veraltungs KG (ORCO-GSG) with regard to the structural optimisation of its real estate portfolio.  With approximately  815,000 sqm ORCO-GSG is a leading provider of office and commercial space in Berlin.  Within the portfolio there is between 20-20,000 sqm available for production, office, workshop or storage.  The formerly state owned ORCO-GSG has been acquired from Land Berlin in 2007 in the course of privatisation by a joint venture of ORCO Property Group and Morgan Stanley.
After a refinancing agreement for EUR 269.6 million could be signed inter alia with the assistance of Gehrke Zumbroich & Partner in December 2012 with banking club of five German banks, Gehrke Zumbroich & Partner now advised the company in a complex transaction, which comprised the transfer of the complete real estate portfolio to several subsidiaries, especially to facilitate future refinancing. 
The team of Gehrke Zumbroich & Partner, which advised ORCO-GSG in the complete transaction, was led by Matthias Gehrke, naming partner of the firm.
Matthias Gehrke commented: “Already in the end of 2012 the refinancing of the expired EURO 304 mio.  RBS loan agreement has been closed restructuring allows ORCO-GSG to focus only on the operative business for several years.  The privatisation of the former land owned GSG has already been a success story.  This may, now, continue and we are proud having supported our client in this regard.” 

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