Pbb, Deutsche Hypo grant €267m loan for Perella's Frankfurt project

German lenders Pbb Deutsche Pfandbriefbank and Deutsche Hypothekenbank have jointly arranged a €267 mln loan for Perella Weinberg Real Estate's Fund II to finance the Marieninsel development
project in Frankfurt/Main.

As lead manager for the facility, Pbb structured the financing and will also act as facility agent and security agent. Pbb and Deutsche Hypo are taking an equal share in the loan.

Marieninsel involves the development of two high-rise buildings in Frankfurt’s city centre. The larger of the two is Marienturm, a 38-storey building reaching a height of 155 metres and providing 44,900 m2 of rental space. The adjoining 10-storey Marienforum will be 40-metres high and offer a rental space of 11,700 m2.

Pecan Development was mandated for the entire Marieninsel project.