Hatfield Philips, Europe's largest independent primary and special servicer, has announced the successful restructuring of the EUR 71.2 mln Berlin Dresden loan. The loan, which is secured on two office buildings in Berlin and Dresden, was transferred to Hatfield Philips earlier this year due to non-repayment at the maturity date. Since the transfer to special servicing, Hatfield Philips negotiated loan restructuring terms with the borrower while concurrently assessing the enforcement options.
Hatfield Philips, Europe's largest independent primary and special servicer, has announced the successful restructuring of the EUR 71.2 mln Berlin Dresden loan. The loan, which is secured on two office buildings in Berlin and Dresden, was transferred to Hatfield Philips earlier this year due to non-repayment at the maturity date. Since the transfer to special servicing, Hatfield Philips negotiated loan restructuring terms with the borrower while concurrently assessing the enforcement options.
Philip Byun, vice president, Hatfield Philips, commented: 'As the special servicer it is our responsibility to maximize the value of the investments taking into account the prevailing market conditions. We are therefore pleased to announce the successful completion of the restructuring of the loan in such a way that all interested parties have a satisfactory conclusion.'
