Pbb provides first loan to Sweden's Klövern

Pbb Deutsche Pfandbriefbank has provided a SEK 330 mln (€37 mln) senior loan to affiliates of listed Swedish property company Klövern.

The facility will be used to finance an office property located in Solna, north of Stockholm. The property is multi-let and classified as a green building.

Norbert Müller, head of real estate finance for Continental Europe West at ppb Deutsche Pfandbriefbank, said: 'The Scandinavian market continues to show exceptional stability. The interest from both national and international investors
remains high. For pbb Deutsche Pfandbriefbank Sweden is an important market and we are very pleased to close our first deal with Klövern AB.'