Pbb Deutsche Pfandbriefbriefbank has refinanced two real estate portfolios for newly listed German residential landlord Deutsche Annington.
Pbb Deutsche Pfandbriefbriefbank has refinanced two real estate portfolios for newly listed German residential landlord Deutsche Annington.
The loan volume amounts to €208 mln and was paid out at the beginning of July, the bank said on Thursday.
The two portfolios - known as Roosevelt and Wilson - consist of more than 6,400 residential units.
The Roosevelt portfolio consists of 3,329 residential units, located mainly in the state of Baden-Württemberg, with a total rental area of around 242,577 m².
The Wilson portfolio comprises 3,082 residential units, located in Hesse and the Rhineland-Palatinate, with a total rental area of around 222,186 m².
Gerhard Meitinger, head of real estate finance Germany at pbb Deutsche Pfandbriefbank, said: ‘Pbb Deutsche Pfandbriefbank is pleased to be a financing partner of Deutsche Annington. The German residential real estate market is stable, and continues to offer good opportunities in conjunction with low volatility. This transaction demonstrates our ability to quickly execute large-volume and complex financing solutions.’
In early July, Deutsche Annington Immobilien raised nearly €575 mln in an Initial Public Offering on the Frankfurt stock exchange.
