DLA Piper Advised Erste Group and UniCredit Bank on Refinancing of a Retail Portfolio in Belgrade

DLA Piper Advised Erste Group and UniCredit Bank on Refinancing of a Retail Portfolio in Belgrade

DLA Piper has advised Erste Group Bank AG, Erste Bank a.d. Novi Sad (Serbia), and UniCredit Bank Serbia a.d. on the EUR225 million refinancing of the retail portfolio owned by Atterbury, a group of South African investors, and MPC Properties, a leading Serbian real estate developer. The portfolio comprises three shopping centers in Belgrade (Ušće, BEO, and Mercator) and represents the largest real estate refinancing transaction in Serbia to date.

The financing was the first cross-collateralised portfolio deal involving assets managed jointly by Atterbury Europe and MPC Properties, which under favourable market conditions (underscoring continued investor confidence in the CEE/SEE property markets) allowed an optimised capital structure for the Serbian SPVs and their property portfolio.

Dr. Marcell M. Németh says: “This landmark deal highlights our ability to successfully support complex cross-border financings. Thanks to the close and seamless collaboration of our teams across multiple jurisdictions, we were able to deliver first-class advice and efficiently support the refinancing of this significant portfolio”.

The DLA Piper team was led by Dr. Marcell M. Németh, LL.M (Partner and Head of the Finance Practice/ DLA Piper Austria), and included Mei Mei Wong (Finance Partner/ London), Lex Oosterling (Finance Partner/ Amsterdam) and Michael Graham (Tax Partner, London), Stefanie Menz (Finance Legal Director, Amsterdam), Amy Franks (Senior Associate/ Finance, Leeds), Lukas Krenn (Senior Associate/ Tax, Vienna) and Jason Carli (Senior Associate/ Tax, London) and Reece Robinson (Associate/ Finance, Leeds), Cai Cherry (Associate/ Litigation & Regulatory, London).

Local advice was provided by Jelisaveta Stanišić (Partner/ Banking and Finance practice) and Stojan Semiz (Partner/ Banking and Finance practice) as well as Tijana Trivunović (Senior Associate/ Banking and Finance practice) at ZSP Advokati.

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