Property development and commercial finance in Germany
Developers, project developers and investors rarely fail on the project — they fail on a single bank’s grid. I structure your 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.
In short
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 — yes. 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.
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.
How much debt is available for commercial property finance in Germany?
Around two thirds, on average. For the second quarter of 2026 the BF quarterly barometer measured loan-to-value at 64,2 percent for standing assets. Loan-to-cost for developments came in at 66,3 percent. Both figures cover all use types. The remaining third comes from your own funds or from subordinated capital.
Anyone who cannot show that share does not need a bank enquiry yet. They need a capital structure first. Market conditions matter too: nearly half of the lenders surveyed reported worse conditions than in the previous quarter. Banks are steering new business more selectively while working through problem loans in their existing books.
Debt funds are taking on projects that are sound but no longer fit every bank template. That is where the work sits: not asking one house, but finding the right one. The senior loan is brokered under section 34c GewO.
One regulatory note, because it is often confused: Germany's sectoral systemic risk buffer applies to residential lending, not to commercial assets.
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.
Developer & project finance
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
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
For investors and portfolio holders: acquisition of single properties or whole portfolios, refinancing and releasing capital from the holding.
Commercial follow-up finance
Is the fixed-rate period ending or a loan falling due? I review prolongation, refinancing and top-ups — in good time and bank-independently.
Mezzanine & equity
When equity runs short: subordinated components that banks count as economic equity — coordinated via licensed partners.
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.
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.
I think about financing from the other side: instead of forcing your project into one bank’s corset, I 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.
The capital structure — and where I 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:
| Component | Role | Cost (tendency) | Who brokers |
|---|---|---|---|
| Senior loan (bank / debt fund) | largest, first-ranking secured part | low | me, under §34c |
| Interim / bridge finance | short-term liquidity as a loan | medium to high | me, under §34c |
| Mezzanine / subordinated capital | closes the equity gap | high | licensed partners (§34f / KWG) |
| Equity / joint venture | entrepreneurial risk, first-loss position | most expensive | licensed partners |
I structure the overall picture and broker the loan side myself. 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 sits, you fall through this grid — too small for the one, too special for the house bank.
This gap is my 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.
Frequently asked questions
Who is the commercial finance intended for — private individuals too?
What does your advice cost me?
Do you finance even when my house bank has declined?
Do you broker mezzanine and subordinated capital yourself?
How fast can a bridge financing be arranged?
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 for Developers.
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)
Present your project to me — without obligation
Message me on WhatsApp or book a 30-minute call. The first check of your plan is free.