Wells Fargo to Acquire Hypothekenbank Frankfurt UK Commercial Real Estate Portfolio from Commerzbank

Wells Fargo & Company WFC, the leading commercial real estate lender in the U.S., has signed an agreement to acquire Commerzbank's Hypothekenbank Frankfurt (formerly Eurohypo) U.K. commercial real estate portfolio. The transaction includes a £4.0 billion ($6.05 billion) portfolio of commercial real estate loans comprised of high-quality institutional assets throughout the U.K. with a focus in London. A portion of the portfolio, consisting of approximately £1.3 billion ($1.96 billion) of non-performing assets, will be acquired by Lone Star Funds, with Wells Fargo providing the financing. The transaction is expected to close in Q3 2013. “This transaction, in combination with Wells Fargo's long standing real estate expertise, will help create a best-in-class commercial real See full press release