German lender pbb Deutsche Pfandbriefbank said on Tuesday that it has granted a €150 mln loan to die developer Projektentwicklung for the construction of an office project in Düsseldorf.
German lender pbb Deutsche Pfandbriefbank said on Tuesday that it has granted a €150 mln loan to die developer Projektentwicklung for the construction of an office project in Düsseldorf.
The funds will be used to finance the purchase of a plot of land in the Kennedydamm office area of Düsseldorf and the subsequent development of a 60-metre high office tower, designed by architects HPP Architekten.
The scheme, which is pre-let to French global cosmetics company L'Oreal, will offer 22,500 m2 of space as well as 400 parking spaces and is scheduled be completed by the end of 2017.