White & Case Advises LBBW on Realignment in Commercial Real Estate Finance
Deal News | Aug 01, 2025 | White & Case LLP
The global law firm White & Case LLP has provided legal advice to Landesbank Baden-Wurttemberg (LBBW) regarding its strategic realignment in the commercial real estate finance sector. Following its acquisition of Berlin Hyp in the summer of 2022, LBBW has completed a significant phase of integration under the German Transformation Act which sees the transfer of Berlin Hyp's real estate finance activities to LBBW effective from August 1, 2025. As part of this transaction, LBBW has taken over all creditor and debtor positions of Berlin Hyp AG, becoming the issuer in their stead and merging the public and mortgage cover registers of both banks. The integration has also seen the establishment of new branches in France and the Netherlands and a representative office in Poland to maintain the business operations previously handled by Berlin Hyp. With an expanded financing portfolio approximating €63 billion, the newly combined entity under the Berlin Hyp brand stands as a major player in European commercial real estate financing. White & Case's advice was multifaceted, covering corporate, regulatory, employment, capital markets, real estate, and banking law, highlighting their comprehensive role in ensuring the successful completion of this realignment.
Sectors
- Real Estate Finance
- Banking
- Legal Services
Geography
- Germany – Germany is the home country of LBBW and primary location of this legal and financial realignment.
- France – LBBW established new branches here as part of its international expansion following the integration of Berlin Hyp.
- Netherlands – A new branch was established here by LBBW post-integration to continue Berlin Hyp’s business operations.
- Poland – A representative office was established in Poland for continuing Berlin Hyp's business in the region.
- UK – Some of the White & Case LLP legal team involved in advising LBBW are based in London, indicating involvement at the UK level in this transaction.
Industry
- Real Estate Finance – The article discusses the realignment of LBBW's commercial real estate finance operations following its integration of Berlin Hyp.
- Banking – LBBW and Berlin Hyp's merger involves banking elements like creditor and debtor transitions, with implications for public and mortgage cover registers.
- Legal Services – White & Case LLP provided extensive legal advice, covering areas such as corporate, regulatory, and banking law, to support the realignment.
Financials
- €63 billion – The total financing portfolio value of the newly combined real estate finance operations under LBBW.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Landesbank Baden-Wurttemberg (LBBW) | Bidding Company/ Buyer | Company | LBBW is the acquiring entity integrating Berlin Hyp's real estate finance activities into its operations. |
| Berlin Hyp | Target Company | Company | A real estate finance company whose activities have been integrated into LBBW. |
| White & Case LLP | Legal Advisor | Company | A global law firm that advised LBBW on corporate, regulatory, and other legal matters relating to the integration. |