Schwabinger Tor

€ 388 million

Development and Investment Financing in a consortium
March 2014

The „Schwabinger Tor“ in Munich is currently one of the largest inner-city real estate development projects in Germany. Nine buildings are being created in Schwabing, with a space of 90,000 m2 (approx.). The special feature of this project is the vertical mixed use of the space for retail, restaurants, offices and apartments, combined with a 5 star-plus hotel and integrated conference centre. The project manager and land owner is the Jost Hurler Group. pbb acted as Arranger, structuring the loan with a volume of € 388 mn and a loan period of 20 years. pbb involved ERGO Life Insurance as a partner. As financer, pbb provides € 188 mn of the loan, whilst ERGO provides € 200 mn.

Beacon Tour First

€ 515 million

Syndicated investment finance
September 2014

Tour First is an iconic office tower located in La Défense, a major business district in the Paris Metropolitan Area. With 50 upper floors and a total height of 231 meters it is the tallest office building in France and the second tallest structure after the Eiffel Tower. Aareal Bank AG and pbb acted as Joint Mandated Lead Arrangers co-underwriting a € 515 mn senior loan facility to an affiliate of Beacon Capital Partners, LLC for the purchase of the building. By the way of syndication, the Senior European Loan Fund 1 managed by AEW Europe and M&G Investments, as well as another banking partner, agreed to the loan facility as further lenders. In this transaction, pbb also acted as the Facility and Security Agent.

Arei, Fastigheter

€ 155 million

Investment finance
March 2014

pbb provided SEK 1.385 billion (approx. € 155 million) in acquisition financing to Areim Fastigheter 2 AB (“Areim”) for the purchase of a 38,000 m² office building in Stockholm, Sweden. The landmark property is situated on the edge of Stockholm’s Central Business District and is the headquarters of the insurance company Trygg-Hansa. The transaction is a further demonstration of pbb’s strong commitment to the Nordic markets, which is one of pbb’s core markets. pbb has been servicing the Nordig region from its Stockholm office since September 2012.

Lipowy Office Park

€ 55 million

Investment finance
May 2014

pbb provided a € 55 mn medium-term refinancing facility for two of W. P. Carey’s publicly held, non-traded REIT affiliates. The proceeds are being used to partially refinance the purchase price paid for the acquisition of Lipowy Office Park,Bank Pekao’s headquarters. The 34,900 m2 office complex was completed in 2009 by Hochtief Development Poland. It consists of four 9-storey modern office buildings, located in the Ochota district, at the major road connecting Warsaw’s central business district with the international Fryderyk Chopin Airport. This transaction emphasises the value that pbb’s knowledge of Eastern and Western European markets can bring to its clients.

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