Landesbank Baden-Württemberg (LBBW) completed the legal integration of Berlin Hyp with effect from 1 August 2025, transferring all of the Berlin-based bank's real estate finance activities to LBBW under the German Transformation Act.
LBBW acquired Berlin Hyp in summer 2022. With the transfer, the business of the former Berlin Hyp AG has been combined with LBBW's own commercial real estate finance activities, creating a real estate finance provider with a financing portfolio of around €63 billion.
BERLIN HYP BRAND RETAINED INSIDE LBBW
The combined commercial real estate business operates under the Berlin Hyp brand as an organisationally independent entity within LBBW, serving clients in Germany, key European real estate markets and North America. Sascha Klaus, chief executive of Berlin Hyp, is the member of LBBW's Board of Managing Directors responsible for real estate and project financing. Rainer Neske is LBBW's chief executive.
To continue Berlin Hyp's activities outside Germany, LBBW established new branches in France and the Netherlands and a representative office in Poland.
COVER REGISTERS MERGED
As part of the integration, LBBW replaced Berlin Hyp AG as the counterparty in its creditor and debtor relationships, and the public and mortgage cover registers of the two banks were merged. The cover registers hold the assets backing the banks' Pfandbrief covered bonds.
The regulatory and legal incorporation of the business was completed on 1 August, while the technical integration of Berlin Hyp into LBBW's systems was set to continue over the following months. White & Case advised LBBW on the realignment of its commercial real estate finance business.
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