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20 February 2005 – LAWFUEL – The Law News Network – Herbert Smith and…

20 February 2005 – LAWFUEL – The Law News Network – Herbert Smith and Gleiss Lutz have advised Hypo Real Estate Bank International on a £141 million loan facility to a German closed-ended fund initiated by CommerzLeasing und Immobilien Group to assist in the acquisition of London’s landmark property, the Lloyd’s Building (One Lime Street, London EC3).

Finance partner Ewen Fergusson together with Don Rowlands (real estate) led the Herbert Smith team. They were supported by Lucy Carter (finance), Simon Price (real estate) and Suzie Moore (tax).

The German aspects of the deal were led by Gleiss Lutz partners Detlef Schmidt and Christian Steinke (real estate/corporate), Helge Kortz (finance) and Burkard Göpfert (international insolvency).

Ewen Fergusson commented:

“We are pleased to further strengthen our evolving relationship with Hypo on a deal secured on such a high-profile property. German funds are becoming more active in the UK market at the moment and are attracted by the yield on prime assets such as the Lloyd’s Building.”

Norton Rose advised the borrower.

British MP George Galloway and his opponent the Daily Telegraph will leave no stone unturned to sort out what could be a spectacular libel case.