Deutsche Pfandbriefbank announced on Tuesday that it has returned to the syndication market, placing the majority of the EUR 110m Prologis facility, announced in August 2009, with two German banks.
Deutsche Pfandbriefbank announced on Tuesday that it has returned to the syndication market, placing the majority of the EUR 110m Prologis facility, announced in August 2009, with two German banks.
The EUR 70 mln syndication transaction was one of the largest syndications since the outbreak of the financial markets crisis in the autumn of 2008, Deutsche Pfandbriefbank, the core lending bank of the Hypo Real Estate Group, said.
The bank said that the latest syndication improved its risk/return ratio and freed resources for new business with a 'target client'.
Deutsche Pfandbriefbank has provided a EUR 110 mln facility to Prologis European Properties Fund II, a logistics real estate fund managed by NYSE-listed Prologis. The facility is secured on a portfolio of 17 German logistics properties built in 2007 and 2008, with an aggregate floor space of 423,000 m2.
