German lender pbb has provided Octagon, a US-German developer and manager, with a €36 mln refinancing of a residential and commercial portfolio located across Germany, and an additional €2 mln for capital expenditure.
German lender pbb has provided Octagon, a US-German developer and manager, with a €36 mln refinancing of a residential and commercial portfolio located across Germany, and an additional €2 mln for capital expenditure.
The portfolio of 926 homes and 30 commercial units, with a total space of 64,584 m2. The properties are situated in North Rhine-Westphalia and Hessen.
Feondor, an owner-run asset management specialist, is responsible for the asset management of the portfolio.
'This transaction once again proves pbb’s knowledge of regional markets,' commented Gerhard Meitinger, head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank.
