Munich/ London – pbb Deutsche Pfandbriefbank provided an investment loan of € 92.6 million to CLS. The loan was provided to finance a German office portfolio. The transaction closed at the end of December 2017.
The portfolio consists of 12 office buildings mainly located in Hamburg, Düsseldorf, Munich, Wiesbaden and the Stuttgart region with an overall lettable space of around 89.500 sqm. All properties are multi-tenanted and mostly rented by well-known tenants like Bosch Group, Alpine Electronics and various institutions of North Rhine-Westphalia.
Gerhard Meitinger, Head of Real Estate Germany at pbb Deutsche Pfandbriefbank, said: “CLS is a longstanding customer of pbb with a proven asset management team in Germany. We are convinced that CLS will further optimize the offices for possible tenants.”
Rolf Mensing, Head of Germany for CLS, commented: “The acquisition of this
portfolio was a significant step towards our stated goal of increasing our presence in Germany, and reflected our confidence in the broader German market. The investment loan underpinned the investment decision and we are delighted to have concluded it with pbb.”
Ansprechpartner für die Medien
Walter Allwicher, +49 89 2880-28787, walter.allwicher(at)pfandbriefbank.com
Nina Lux, +49-89-288011496, nina.lux(at)pfandbriefbank.com
About CLS
CLS Holdings plc is a commercial property investment company with assets in the UK, Germany and France, which has been listed on the Main Market of the London Stock Exchange since 1994 and is a constituent of the FTSE 250 Index. The company invests primarily in office buildings, delivering stable cash flows and provides high quality, cost effective premises to over 500 tenants including leading blue chip corporations and governments. It operates an efficient, proactive management approach, working closely with its tenants to meet their individual requirements. For further information
please see: http://www.clsholdings.com