German lender pbb Deutsche Pfandbriefbank has provided a €41 mln senior loan to the Whitehall Funds.
German lender pbb Deutsche Pfandbriefbank has provided a €41 mln senior loan to the Whitehall Funds.
The credit facility will be used to refinance a commercial real estate portfolio consisting of eight assets mainly located in the Ile-de-France region. The transaction was signed in July 2013.
The largest asset in the portfolio is located in the prime area of Place de la Madeleine in Paris' Central Business District. Archon Group is acting as asset manager.
Norbert Müller, head of real estate finance for Continental Europe West at Deutsche Pfandbriefbank, said: 'For Pbb Deutsche Pfandbriefbank, France is one of the key markets. This is the second transaction with Whitehall Funds closed in the past eight months and we intend to further expand our relationship with them.'
