GSK Stockmann provided comprehensive legal advice to PGE Grundstücksgesellschaft Europaviertel GmbH, the owner of “Timber Pioneer”, a green building with a gross floor area of around 17,600 square metres, on its refinancing. UBM Development holds a 74.9% stake in PGE Grundstücksgesellschaft Europaviertel GmbH, while the remaining 25.1% is held by the Paulus Group.
The financing was provided in the form of a EUR 69 million green loan from Deutsche Pfandbriefbank (pbb) and a new EUR 20 million financing fund from HanseMerkur Grundvermögen.
Situated in the heart of Frankfurt’s Europaviertel, right next to the FAZ Tower, the “Timber Pioneer” building was completed in 2024 and is the city’s first ever timber hybrid office building. The anchor tenant, occupying an area of almost 9,000 square metres, is the fund services provider Universal Investment. It moved into “Timber Pioneer” with around 800 employees at the beginning of 2025, making the building its new headquarters.
Advisers of UBM Development at GSK Stockmann:
Stefan Koser (Lead, Finance), Dr Olaf Schmechel (Real Estate), Dr Mechtild-Maria Siebke, LL.M. (Finance), Marie Bogutzki (Finance) and Louisa Hecker (Finance).
