Three European banks have provided an unnamed US investor with a EUR 158 mln loan for the acquisition of German residential real estate portfolio.
Three European banks have provided an unnamed US investor with a EUR 158 mln loan for the acquisition of German residential real estate portfolio.
German lender pbb Deutsche Pfandbriefbank acted as mandated arranger and is security and facility agent for the financing. Natixis Zweigniederlassung Deutschland and Société Générale Corporate & Investment Banking were mandated arrangers.
The transaction for the investment loan of EUR 147 mln and EUR 11 mln for capital expediture was signed in Septembwer 2011. Disbursement of the investment loan took place at the closing at the end of February 2012, due to a complex portfolio acquisition structure, pbb said.
The acquired portfolio consists of 8,000 affordable housing units. The properties are mainly distributed throughout Berlin, the Greater Berlin area, Dresden, Halle and Leipzig.
