German lender pbb Deutsche Pfandbriefbank has financed Canadian REIT Inovalis' €25 mln acquisition of an office building in Duisburg.
German lender pbb Deutsche Pfandbriefbank has financed Canadian REIT Inovalis' €25 mln acquisition of an office building in Duisburg.
Located in Duisburg’s inner harbour, the property offers around 20,000 m2 of office space fully let to Mitsubishi Hitachi Power Systems Europe on a long-term lease.
'Germany, given its economic stability, is a core market for pbb Deutsche Pfandbriefbank,' said Gerhard Meitinger , head of real estate finance Germany at pbb Deutsche Pfandbriefbank.
He added: 'This financing is a good example of the current trend on the German real estate market: Excellent real estate situated in very good city locations is of increasing interest to investors, even if the cities themselves are not absolutely prime locations.'
