German property lender pbb Deutsche Pfandbriefbank has provided a €30 mln loan to finance the development of the EberhardHöfe office, residential and retail complex in the centre of Stuttgart.
Stuttgart-based W2 Development and Munich-based investment company Competo Capital Partners have joined forces to develop the asset, which will provide 8,200 m2 of rental space in total.
The project, which is designed by architects Willwersch, includes taking down the listed Eberhardstrasse façade, in collaboration with surveyors, and rebuilding it in the style of the original.
Gerhard Meitinger, head of real estate finance Germany at pbb Deutsche Pfandbriefbank, said: 'In real estate finance, Germany is the most important market for pbb. We would like to expand our activities in Baden-Württemberg and, as a financing partner, we are ready to support developers and investors. We are especially pleased to support this attractive development in Stuttgart’s city centre as a financing partner.'
