Hogan Lovells Cadwalader with UniCredit Bank on Kirschgärten project financing
Hogan Lovells Cadwalader advised UniCredit Bank on the financing of the second phase of the Kirschgärten urban development project in Munich-Untermenzing.
Deal details
With completion scheduled for 2030, the new urban district is planned to comprise approximately 1,550 newly built apartments, four daycare centers, a school, a café, retail space, and a public landscaped park covering approximately 24,000 square meters, with the overall project implemented across five construction phases.
The second phase, which has now been financed, comprises 384 rental apartments, of which approximately 42% of the residential units will be designated as subsidized housing.
The financing was structured in accordance with the criteria of UniCredit Bank’s Social Impact Financing Program and arranged as a green loan.
Advisory team
The Hogan Lovells Cadwalader team advising UniCredit Bank was composed led by partner Christian Herweg. The lineup further included associates Julia Fäßler and Veronika Sponer for finance in Munich, counsel Antonia Wolf for finance in Frankfurt, partner Martin Günther and counsel Tim Hinrichsen for real estate law in Munich, and partner Ingmar Dörr for tax Law in Munich.
