Pbb provides €39m for German deals

German lender pbb Deutsche Pfandbriefbank is providing €39 mln in financing to German fund manager Beos.

The funds will be used to finance the acquisition of two properties in Cologne and Frankfurt. The investment transactions were carried out by Beos Corporate Real Estate Fund Germany II, a special fund for German institutional investors.

The acquired property in Cologne, Carlswerk - Quartier 1, has a total rental area of 26,749 m2. The space is almost fully let. The primary tenants are the publisher Bastei Lübbe and Bühnen der Stadt Köln.

Campus Oberhafen in Frankurt comprises 37,460 m2 and is more than 90% let - the tenants include IPW/ Evonik Industries and Eterna Zentaris.