German real estate developer Pandion has secured €100m in financing from Värde Partners.
The debt is secured against a 13-asset residential portfolio across major German cities, including Berlin, Munich, Cologne, Bonn, Düsseldorf and Stuttgart.
A significant number of the projects are currently in construction or reaching advanced stages of development.
Vishal Kumar, managing director at Värde Partners, said: “We are pleased to partner with Pandion and to provide flexible financing that enables the company to build on its long-standing track record of delivering high-quality residential developments across Germany.
“This transaction reflects our confidence in the attractiveness of the German residential market and in Värde’s ability to deliver tailored capital solutions supporting the development of prime real estate assets across Europe.”
Reinhold Knodel, chief executive officer of Pandion, said: “Following the closing of the financing with Värde and the extension of our corporate bond, we have laid the foundation for the restructuring of our corporate financing, enabling us to refocus on our core development activities.”
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