A syndicate of lenders arranged by pbb Deutsche Pfandbriefbank and Societe Generale has provided a €475 mln loan to German commercial property group Prime Office.
A syndicate of lenders arranged by pbb Deutsche Pfandbriefbank and Societe Generale has provided a €475 mln loan to German commercial property group Prime Office.
Prime Office will use the facility to refinance its Herkules portfolio.
The facility and hedging was jointly underwritten by Natixis Pfandbriefbank, pbb, Societe Generale Corporate & Investment Banking as well as by an unnamed European debt investor brought by SGCIB.
Pbb is also acting as facility and security agent of this transaction, which closed on 20 February 2014.
Prime Office is the new combine resulting from the merger in January 2014 of Prime Office REIT, German Acorn Real Estate and OCM German Real Estate Holding. The group owns 37 properties in 21 German cities with a highly diversified multi-tenant base.
The properties are spread over several federal states and provide a lettable space of 420,000 m2.
