Pbb refinances department stores

German lender pbb Deutsche Pfandbriefbank has provided a €33 mln loan to Deutsche Industrie-Holding to refinance two fashion and textiles stores in Germany.

The stores are located in Oberhausen (Centro mall) and Mönchengladbach

Gerhard Meitinger, head of origination Germany at pbb Deutsche Pfandbriefbank, said the deal was beneficial to the bank in two ways.

'The refinanced assets in Oberhausen and Mönchengladbach are top A1 High Street premises. In addition we have won a new client, Deutsche Industrie-Holding,' he noted.

Frankfurt-based Deutsche Industrie-Holding invests in German mid-sized companies.