German lender pbb Deutsche Pfandbriefbank is to finance developer Wöhr + Bauer's purchase of the Tower property in Munich as well as the construction of a new 23,000 m2 office building on the site.
German lender pbb Deutsche Pfandbriefbank is to finance developer Wöhr + Bauer's purchase of the Tower property in Munich as well as the construction of a new 23,000 m2 office building on the site.
The office complex, which is expected to be finished between the end of 2016 and the beginning of 2017, is almost entirely leased to Brainlab, a developer and manufacturer of software-based medical technology, which will use it as its own headquarters.
'This financing underlines pbb Deutsch Pfandbriefbank’s strong market position for the funding of development measures in its Munich home market,' commented Gerhard Meitinger, head of real estate Germany at pbb Deutsche Pfandbriefbank.