Commercial mortgage in Germany: who finances purchase, holding and projects?
Developers, project developers and investors rarely fail on the project — they fail on a single bank’s grid. we structure your property development finance and commercial property finance bank-independently and approach in parallel the houses that actually lend: banks, debt funds and private capital providers. From the senior loan to a coordinated mezzanine component — from a single source, under §34c GewO.
How much debt is available for a commercial mortgage in Germany?
Debt covers around two thirds on average in Germany, of the value for standing assets and of total costs for developments. For the second quarter of 2026 the BF quarterly barometer measured loan-to-value at 64.2 percent for standing assets and loan-to-cost at 66.3 percent for developments. The remaining third comes from your own funds or from subordinated capital.
What you get:
- Documents on the plan · project, building rights, calculation, exit
- Documents on person & company · track record, equity, credit standing
- The metrics that count · LTC, LTV, equity ratio, pre-sale, margin
- Security & structure · senior to mezzanine, cleanly classified
Open the file directly — no form: Project finance checklist (PDF, 9 pages)
Commercial mortgage in Germany: the short answers
A commercial mortgage in Germany comes from the bank, debt fund or private capital provider whose lending grid fits your project. Perini brokers the senior loan and interim or bridge finance under §34c GewO, and the first check costs nothing.
650+ banks & capital providers; 1 source senior to mezzanine; €0 for your first check; §34c GewO authorisation.
A commercial mortgage in Germany comes from whichever bank, debt fund or private capital provider has a lending grid that fits your project.
Who finances a property project when the house bank declines? A rejection is almost never a verdict on your project — it is a verdict on the fit with one bank's risk grid (equity ratio, pre-letting, pre-sale, track record).
Banks with scope, specialist financiers, debt funds and private capital providers have different preferences; they are approached in parallel, not one after another. If LTC/LTV, pre-sales and the calculation hold and only the house bank's risk policy does not fit, financing is usually possible.
A calculation that does not hold is not something we can solve.
Who may broker which component? The senior loan and interim or bridge finance: Perini, under §34c GewO. Mezzanine, subordinated and equity-like components are asset investments and are tied in via licensed partners under §34f GewO or the KWG. You get the complete structure coordinated from a single source. German property as an investment.
Who arranges this? Perini Finance & Property — licensed under §34c GewO for commercial property loans, banks, debt funds and private capital providers compared, we know the houses whose lending rules cover mid-sized developers, project developers and investors with one or a handful of properties — the gap between the institutional debt advisers and the house bank. The first check of your plan costs you nothing.
What you’re in the right place for: Every project has its own financing question — and its own capital provider. Choose your area; each page is tailored to exactly that situation.
When the bank says no, the project isn’t over
A rejection is almost never a verdict on your project. It is a verdict on the fit between your plan and the risk grid of that one particular bank. Branch banks work with standardised parameters: equity ratio, pre-letting, pre-sale, track record. Anyone who deviates on even one point fails — regardless of how sound the calculation is.
We think about financing from the other side: instead of forcing your project into one bank’s corset, we look for the capital providers whose corset fits your project. Banks with scope, specialist financiers, debt funds and private capital providers have different preferences — and exactly those differences are your lever.
Our stance on independence: we are tied to no house and sell no product of our own. we compare — and choose in your project’s interest. The first check of your plan costs you nothing. Brokerage of commercial property loans under §34c GewO; the private consumer financing runs via the separate authorisation under §34i.
Commercial mortgage: the capital structure — and where we come in
A project financing is rarely a single loan. It is a stack of several components that are secured differently, cost different amounts and are regulated differently. It is important to know who may broker which component:
Senior loan (bank / debt fund) — Role: largest, first-ranking secured part; Cost (tendency): low; Who brokers: us, under §34c. Interim / bridge finance — Role: short-term liquidity as a loan; Cost (tendency): medium to high; Who brokers: us, under §34c. Mezzanine / subordinated capital — Role: closes the equity gap; Cost (tendency): high; Who brokers: licensed partners (§34f / KWG). Equity / joint venture — Role: entrepreneurial risk, first-loss position; Cost (tendency): most expensive; Who brokers: licensed partners.
We structure the overall picture and broker the loan side ourselves. The subordinated and equity-like part I tie in via specialist partners who hold the authorisation under §34f GewO or the KWG for it. So you get the complete structure coordinated from a single source — cleanly within the bounds of the respective authorisations.
Why not simply one of the big names?
The well-known addresses in real-estate debt advisory are strong — but geared to institutional tickets: listed companies, funds, transactions beyond double-digit millions. Exactly where the mid-sized developer, the private project developer and the investor with one or a handful of properties sit, you fall through this grid — too small for the one, too special for the house bank.
This gap is our home. You don’t get a sales apparatus, but a personal contact who understands your project, knows the right capital providers and accompanies the process through to payout. No call centre, no passing on — one hand from the first conversation to the notary appointment.
Project finance checklist — documents & metrics
What banks, debt funds and private capital providers want to see — compact, ready to tick off, before you submit your plan. As of 2026, sent straight by email. Full version with the four review building blocks: Project finance checklist: which documents do developers need?
Developer & project finance (New build & development): From land purchase to completion: senior finance for residential and commercial projects — even where the house bank shies away from the risk.
Interim & bridge finance (Liquidity & speed): When capital has to be there fast: short-term liquidity against sound security, with a clear repayment route instead of a bank process running for months.
Acquisition & portfolio finance (Acquisition & portfolio): For investors and portfolio holders: acquisition of single properties or whole portfolios, refinancing and releasing capital from the holding.
Commercial follow-up finance (Prolongation): Is the fixed-rate period ending or a loan falling due? we review prolongation, refinancing and top-ups — in good time and bank-independently.
Mezzanine & equity (Capital structure): When equity runs short: subordinated components that banks count as economic equity — coordinated via licensed partners.
Frequently asked questions
Who is the commercial finance intended for — private individuals too?
These pages are aimed at clients acting in a business capacity: developers, project developers, portfolio holders and property investors. If you are privately financing a home or a single investment flat, you are in the right place in our Financing area — there the consumer logic under §34i applies.
What does your advice cost me?
For you, nothing. Advice, structuring and approaching the capital providers are free; we are remunerated by the financing house. For very individual mandates a fee agreement can make sense — we discuss that transparently in advance.
Do you finance even when my house bank has declined?
That is exactly what we are here for. A house bank’s rejection does not mean a project is unfinanceable — it usually means it does not fit that one bank’s grid. we approach banks, debt funds and private capital providers in parallel who accept different risk profiles.
Do you broker mezzanine and subordinated capital yourself?
The classic loan side — senior finance, interim and bridge finance as loans — we broker ourselves under §34c GewO. The subordinated or equity-like component (participating loans, subordinated capital, silent partnerships) we coordinate via specialist, appropriately licensed partners. So you receive the overall structure from a single source, without our overstepping the authorisation limits.
How fast can a bridge financing be arranged?
With clean documentation and sound security, short-term interim financing can be arranged within a few days to weeks — much faster than a classic bank process. Speed has its price: bridge capital is more expensive than end financing and is designed around a clear repayment route.
Present your project to us — without obligation
Message us on WhatsApp or book a 30-minute call. The first check of your plan is free.
Related pages
Investment property loan in Germany: how do you finance buying and holding?
Investment property loan in Germany: loan-to-value for standing assets, debt service cover, portfolio finance and releasing capital. § 34c GewO.
Property development finance: what does a lender require from developers?
Property development finance in Germany: what lenders require on equity, pre-sales and structure — with examples, across 650+ banks and capital providers.
Commercial property finance: when should you prepare the follow-up loan?
Commercial property finance: prolongation, refinancing or top-up when the fixed-rate period ends — start 6 to 12 months ahead. Bank-independent, §34c.
Mezzanine finance for property projects: when does it pay off?
Mezzanine finance for property projects: subordinated capital as an equity substitute — cost, structure and when it pays off.
Bridge loan for property: how does bridging finance close the gap?
Bridge loan for property in Germany: bridging finance spans the gap until the sale completes or the long-term loan is in place.
Referral partnership for estate agents: how does the cooperation work?
Mortgage broker Germany for estate agents, developers and insurance brokers: you make the introduction, we arrange the financing — with client protection.
Tax-optimised investment property
Listed-building depreciation, §7b new builds and investment property for private clients are handled by our partner company AUP Finanzservice UG. Straight there.
Editorially responsible: Olga Nikushkina — owner, §34i GewO (German mortgage brokerage), adviser register D-W-132-ZUCB-95. Specialised in German property financing with an international dimension: non-residents, foreign-currency income, cross-border workers, expats. Siegfried Perini is entered in the German intermediary register under this licence as a person directly involved in brokerage and advice (§ 11a GewO), active in real estate since 1992. Not legal or tax advice.