RECON AG, an investment advisor and manager specializing in the structuring of real estate financing, and Berliner Volksbank, the largest regional Volksbank in Germany, have institutionalized their existing strategic partnership. As part of a capital increase, Berliner Volksbank has acquired a stake of around 17 percent in RECON AG.
Through the cooperation so far, the Berliner Volksbank has gained further access to the market for specialized real estate financing. In return, RECON AG can expand its product range for equity-like financial instruments in relation to senior and whole loan loans as well as mezzanine and bridge for real estate portfolio holders and project developers through the cooperation with the renowned medium-sized financial institution. In addition, both companies benefit from joint product offerings in the ever faster growing private debt financing market.
Carsten Jung, CEO of Berliner Volksbank eG, comments: “The previous cooperation with RECON AG was inspiring. As expected, we gained access to the expertise of proven experts and were able to make our consulting skills available to regional project developers. Therefore, our participation was the logical step to take our partnership to a new level.”
“The significantly increased regulatory requirements imposed by the banks pose a challenge to project developers in particular when it comes to financing issues. In order to master these, we are available as professional consultants to structure and implement the appropriate instruments. The diverse network of Berliner Volksbank also helps us to create an individual and suitable financing model for customers. As a medium-sized and regionally anchored bank, it is the ideal shareholder and will continue to inspire our company growth,” says Marcus Kraft, CEO of RECON AG.
RECON AG sees itself as a real estate consultant and investment manager for banks and savings banks. In doing so, she brings portfolio holders, project developers and credit institutions together in order to structure financing from both the residential and commercial real estate sectors. RECON AG provides the entire financing for the added value of real estate.
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