Herbst Kinsky advised Rendity GmbH on the development of a mezzanine capital platform for real estate financing and managed the first issue on the new platform. In particular, the company took the lead in drafting the bond terms and conditions and the corresponding capital market prospectus for United Benefits Holding GmbH. The total nominal value of the bond is up to EUR 10 mio. The bond will be issued in Austria and Germany. The bond will be offered by Rendity Securities GmbH (D), acting as contractually bound agent of a securities firm in Germany.

Founded by Lukas Müller, Tobias Leodolter and Paul Brezina, the Vienna-based start-up enables online real estate investments starting at 100 euros. Rendity offers private and institutional investors real estate projects in urban locations from renowned project partners.

As a real estate-related service provider, United Benefits Holding offers a holistic concept along the entire value chain of a property. Together with its subsidiaries, the holding initiates, develops, realizes and manages real estate investments in the DACH region and stands for unique, innovative concepts of real estate investments.

Florian Steinhart, partner at Herbst Kinsky: “We are very pleased to have advise Rendity, which we advise since its foundation in 2015, together with UB Holding on this capital-market-law demanding project. Rendity has definitely been able to secure a first-mover advantage in this area of real estate financing.”

The Herbst Kinsky team was led on this transaction by Florian Steinhart and Johannes Frank. Other members of the transaction team comprised Carmen Walser, Magdalena Wagner and Irmgard Nemec.