Pbb provides €57m refinancing for AEW-managed portfolio

German lender pbb Deutsche Pfandbriefbank has provided a €57 mln loan to refinance a German retail portfolio which is managed by AEW Europe.

The portfolio consists of cash-and-carry markets, DIY stores, supermarkets and one inner-city shopping centre in 17 different locations throughout Germany.

The funds were provided to German entities, ultimately owned by two institutional investors. Pbb is acting as sole lender and hedge provider for this facility.

The transaction was closed in December 2013.