Penteris Advises HYPO NOE on Real Estate Refinancing

Penteris advised HYPO NOE Landesbank für Niederösterreich und Wien AG on the €28.8 million refinancing of DL Invest Group’s portfolio of 11 retail parks in Silesia, with a total gross leasable area of approximately 44,300 sqm. The five-year financing was provided by HYPO NOE.

Our work covered the legal and tax due diligence of the portfolio, as well as the drafting, negotiation, and execution of the finance documents through to financial closing. The transaction involved the refinancing of existing facilities provided by five different banks, requiring the coordination of a complex repayment and security release process involving multiple finance parties.

The Penteris team was led by Head of Banking & Finance Katarzyna Sawa-Rybaczek, with support from Justyna Jóźwiak, Ewa Olszewska, Natalia Olechnowicz and, on tax matters, Head of Tax Piotr Prokocki.

We would like to thank the entire HYPO NOE team for the excellent cooperation, with special thanks to Thomas Milunovic and Markus Wuensche, who coordinated the process on behalf of the financing party. We also thank DL Invest Group and its advisors at DLP, led by Michał Cwajna and Karolina Samocik, under the supervision of Maciej Duch.

Thomas Milunovic (Head of Team CEE/SEE Real Estate Project Financing, HYPO NOE)  said, “We would like to express our gratitude to Penteris for their legal support and guidance throughout this highly complex banking transaction. The successful closing of the financing required an outstanding level of cooperation between all involved parties, thank you very much for this joint achievement to all parties”.