German lender pbb Deutsche Pfandbriefbank has provided a €76 mln medium-term refinancing facility to Sedco Capital for a mixed-use portfolio located predominantly in Berlin.
German lender pbb Deutsche Pfandbriefbank has provided a €76 mln medium-term refinancing facility to Sedco Capital for a mixed-use portfolio located predominantly in Berlin.
Pbb is acting as sole lender and hedge provider for the facility. Sedco Capital is being advised by LaSalle Investment Management.
The mixed-use portfolio consists of eight German assets with a total lettable area of 65,770 m2. Four of the largest assets, in terms of value, are located in Berlin and represent 75% of the portfolio’s value.
Charles Balch, head of Real Estate Finance International, UK & CEE at pbb said: 'Pbb Deutsche Pfandbriefbank is pleased to be able to support our clients Sedco Capital and LaSalle in this Sharia-compliant financing, a product where we see increasing demand from our international clients.'
