Lone Star sells Düsseldorfer Hypothekenbank

The international consortium completed the deal through holding company Ocean Holding.

DHB was saved from bankruptcy when the association of German banks took control in April 2008.

Lone Star bought DHB in June 2010 and planned to restructure it, after turning around mortgage bank Coreal Credit. It injected more than €500m to strengthen the bank's core capital position.

At that time, DHB had a balance sheet total of €24m and a net income of €1.6m after losing €215m in the financial crisis. It operates total assets worth an estimated €12bn, making this the largest bank takeover since the financial crisis.

Attestor stated it will continue with the current business model and will remain a long-term partner.

Company
Founded in 1997, DHB is a small bonds bank headquartered in Düsseldorf. It specialises in commercial real estate financing for domestic and international real estate investors. Its core markets are Germany, the Netherlands and metropolitan areas in France and Spain.

The bank finances residential properties, offices, hotels, logistics and parking with mortgage small bond loans in the region of €10-50m. It also engages in syndicated loans with other lenders.

People
Christian Freiherr von Villiez is the speaker on DHB's board of directors.

Advisers
Equity – Paul Hastings, Christopher Wolff, Christian Mock, Friederike Schröder, Fritz Kleweta, Uwe Halbig (Legal).

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