White & Case Advises Capmark on €345 Million German Real Estate Financing

London, Frankfurt, May 18, 2007 ... White & Case advised Capmark Bank Europe plc. in the financing for NYSE-listed global real estate investment firm W. P. Carey & Co. LLC, which provided approximately €345 million to German Do-It-Yourself retailer Hellweg Die Profi-Baumärkte GmbH & Co. KG ("Hellweg") and its affiliates. The financing is the largest in W.P. Carey’s 30-plus year history. The financing was structured as a partial purchase of Hellweg's real estate subsidiary, Hellweg Vermögensverwaltung KG, and a loan collateralised across 37 Hellweg operating sites in Germany.

"The German real estate market, which is currently offering better yields than markets such as the UK, continues to experience impressive levels of growth. US and UK investors are particularly active there at the moment, with some institutions using it as the focal point for their activities," commented White & Case partner David Cox.

The White & Case team advising on the deal was led by partner David Cox, working closely with associates Jeremy Trinder and James Johnson in London and local partner Dr. Thomas Flatten and associate Sibylle Karnowsky in Frankfurt. The team was further assisted by local partners Alexander Born, Florian Brügel and Christian Bock in Frankfurt.

"We are delighted to have assisted Capmark on this important transaction with its client. The financing comprised of a complex structure, which was very different to the structures usually seen in the current German real estate finance market," added Flatten.

White & Case's European Real Estate Finance practice represents a whole range of banks, real estate funds, investors, developers and other borrowers in transactions across Europe, utilising the Firm's local presence and expertise to meet the cross-border needs of its clients. The practice acts for clients such as ABN AMRO, Capmark, Doughty Hanson, Land Securities plc. and Lehman Brothers in countries including the UK, Germany, France, Finland and Turkey.

About White & Case
White & Case LLP is a leading global law firm with more than 2,000 lawyers in 35 offices in 23 countries. Our clients value the breadth and depth of our US, English and local law capabilities and rely on us for their complex cross-border commercial and financial transactions and for international arbitration and litigation. Whether in established or emerging markets, the hallmark of White & Case is our complete dedication to the business priorities and legal needs of our clients.

Contact:
James Martin
Media Relations Mgr EMEA, White & Case
44 0 20 7532 2853/ 44 0 7939 012 011


Barbara Gruber
Media Relations, White & Case LLP, Germany
49 (0) 69 29994-1122