German lender pbb Deutsche Pfandbriefbank has financed the purchase by Fortress' Eurocastle Investment of the New Wave German commercial real estate portfolio.
German lender pbb Deutsche Pfandbriefbank has financed the purchase by Fortress' Eurocastle Investment of the New Wave German commercial real estate portfolio.
Pbb is providing a €80 mln loan for the portfolio which is made up of 41 inner-city properties totalling 108,000 m2 of rental space in A and B cities in Germany.
The assets will be managed by Investa Capital Management.
'With this portfolio acquisition, the experienced Munich real estate investor, Investa, is expanding its business activities with us. The portfolio’s real estate is situated in prime micro locations and offers a great deal of potential,' said Gerhard Meitinger, head of real estate finance Germany at pbb Deutsche Pfandbriefbank.
