German lender Pbb Deutsche Pfandbriefbank said this week that it has provided around €140 mln to a subsidiary of Northern European residential property specialist Heimstaden Bostad to refinance the acquisition of a nearly fully-let residential portfolio located in Berlin.
Pbb has been working with Heimstaden in other European markets, including the Nordic Region and the Netherlands.
The portfolio consists of 35 properties mainly located in the Berlin districts of Mitte and Neukölln, and comprises 1.348 units with a total lettable space of 74,500 m2. Flats account for around 93% of the rental space, the remainder being commercial rental space or parking spaces.
