German lender pbb Deutsche Pfandbriefbank has financed the acquisition of two office properties in Berlin and Frankfurt by German listed property investor WCM Beteiligungs- und Grundbeitz (WCM).
German lender pbb Deutsche Pfandbriefbank has financed the acquisition of two office properties in Berlin and Frankfurt by German listed property investor WCM Beteiligungs- und Grundbeitz (WCM).
The loan volume totals €84 mln. The transaction closed in September 2015.
The office building in Berlin comprises 9,600 m2 and 48 parking spaces. The main tenant is a software company, which is listed on the prime standard segment of the Frankfurt stock exchange.
The 28,400 m2 property being financed in Frankfurt features 366 parking spaces. The main tenant is the federal state of Hesse's regional finance office.
In December 2014, pbb provided various loans totalling €45.5 mln to property companies owned by WCM to fund the acquisition of three office buildings in inner-city locations in Bonn, Dusseldorf and Frankfurt.
