April 10, 2018

North Channel Bank Offers Corporate Finance

Short-trem interim financing for „FAKT SHAMROCKPARK“ successfully concluded.

Through a short-term interim financing by North Channel Bank the FAKT Group was enabled to debt purchasing which allowed them to push the sale and the development of the FAKT SHAMROCKPARK project.

“Through the quick, straightforward, and pragmatic support of North Channel Bank it was possible for us to purchase the entire area at Shamrockring. The bank really helped us to realize a dream.” said former Professor Hubert Schulte-Kemper, Founder and Chairman of the Board, of FAKT AG. “Without the bank we would not be where we are today.”

The former RAG-premises with its valuable and historical buildings partially originating from the 19^th Century shall be converted into a residential and commercial area. Envisioned are areas for family-friendly living, senior citizens residencies, a day care center, as well as offices, restaurants, a hotel and a state-of-the-art parking garage with charging stations for electric vehicles.

“When Prof. Hubert Schulte-Kemper presented his request to us it was relatively quickly clear that we would support him in implementing his forward-looking project.” said Harald Zenke, Managing Director of North Channel Bank. “Through the short-term interim financing by us the FAKT-group was enabled to realize its vision to preserve the historical heritage in industrial history, while at the same time develop a highly modern area. We have gladly contributed to it.”

North Channel Bank GmbH & Co. KG was founded in 1924 as the privately owned bank Bankhaus Oswald Kruber, located in Berlin. In 2009, a group of North American investors with expertise in the US life settlement sector acquired the bank and renamed it North Channel Bank. In the following years the bank developed into one of the leading institutes in US life settlement financing. 2013 with the takeover of its subsidiary NorthStar Life Services, LLC, Irvine, California the bank gained direct access to and influence on a reliable, experienced and renowned service provider. Today, in addition to the financing, the bank also offers investments in US life settlements. In the structured finance division the bank focuses on impact financing, corporate financing and structured finance facilities for municipalities.

The FAKT Group focuses on project development – core sectors are real estate, selected municipal infrastructure and capital market themes, as well as projects for the environmentally friendly generation of energy and the efficient use of scarce resources. In Germany and in the international market, the FAKT Group operates with a professional network of established cooperation partners and representatives in Amsterdam, Hamburg, Copenhagen, London and Paris. The group of companies currently bundles 20 subsidiaries and project companies under their roof.