Pbb Deutsche Pfandbriefbank together with four other banks has financed a portion of the Baubecon portfolio which German listed company Deutsche Wohnen acquired in May this year. Deutsche Wohnen bought the Baubecon portfolio of 23,500 housing units in Germany in a deal worth EUR 1.2 bn.
Pbb Deutsche Pfandbriefbank together with four other banks has financed a portion of the Baubecon portfolio which German listed company Deutsche Wohnen acquired in May this year. Deutsche Wohnen bought the Baubecon portfolio of 23,500 housing units in Germany in a deal worth EUR 1.2 bn.
pbb Deutsche Pfandbriefbank provided EUR 285 mln of the overall facility. The loan relates to a sub-portfolio comprising approximately 8,500 residential units, most of which are located in Berlin, but also Brunswick, Hanover and Wittenberg. pbb Deutsche Pfandbriefbank intends to syndicate a portion of its share.
Dr Bernhard Scholz, member of the Management Board of pbb Deutsche Pfandbriefbank, said Germany remained a core market for the bank and that the transaction was particularly significant due to its size and nature. 'It demonstrates our ability to quickly execute complex financing solutions.'
