German lender pbb Deutsche Pfandbriefbank has agreed a €28 mln medium-term acquisition facility for the CBRE European Shopping Centre Fund.
German lender pbb Deutsche Pfandbriefbank has agreed a €28 mln medium-term acquisition facility for the CBRE European Shopping Centre Fund.
The fund, which is managed by managed and advised by CBRE Global Investors, will use the facility for its acquisition of StadtCenter shopping centre in Düren, Germany.
Pbb is acting as sole lender and hedge provider for this facility. The transaction closed in December 2013.
StadtCenter Düren comprises a net lettable area of 17,600 m2 and was opened in 2005. The main tenants are retail chains such as Saturn (electronic goods), dm (drugstore), New Yorker and H&M (both textile stores).