Pbb Deutsche Pfandbriefbank has provided a six-year acquisition facility of €64 mln to several property businesses held by a dedicated holding company managed by AEW Europe.
The facility finances the acquisition of a portfolio of four business parks in the Paris region (Villebon, Evry, Antony and Cergy).
'This deal further consolidates the existing good relationship with AEW and finances an attractive asset base in a core market for the bank,' commented Charles Balch, head of real estate finance international, UK & CEE at Pbb Deutsche Pfandbriefbank.
The portfolio comprises 53 buildings totalling around 220,000 m2 (59% office and 41% light industrial) which are occupied by over 200 tenants.
The transaction closed at the end of December 2016. Pbb acted as arranger and sole lender under the facility.
Frankfurt-listed Pbb is the largest issuer of Pfandbriefe and a major issuer of covered bonds in Europe.
