pbb provides €66.5 mn for an office portfolio in Warsaw and Budapest managed by Galleon Capital Management (GalCap Europe)


Munich/London/Budapest/Warsaw – pbb Deutsche Pfandbriefbank has provided an investment loan facility totalling €66.5 mn for an office portfolio managed by GalCap Europe on behalf of an institutional client. The fund will utilise the proceeds for the refinancing of a mixed-use portfolio with assets in Budapest and Warsaw. pbb acted as arranger and sole lender under the facility.

The portfolio comprises six refurbished office buildings in central locations. The 50,000m² of gross lettable area predominantly consists of office space, which is complemented by small proportions of retail and restaurant as well as residential and hotel space. The portfolio is let to reputable tenants such as government institutions and other well-known national and international firms.  

Marco Kohla, Managing Partner of GalCap Europe said: “We are convinced that the real estate markets of Central Europe offer exceptionally attractive investment opportunities. The mid- to long-term prospects are compelling. Our cooperation with pbb Deutsche Pfandbriefbank enables us to realize these opportunities in a timely manner.”

Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "We are very pleased to support GalCap in Central- and Eastern Europe. The deal underlines our continued strong interest in the CEE real estate markets, in particular in the office markets in key cities.”


Media contacts:
Walter Allwicher, +49 89 2880-28787, walter.allwicher@pfandbriefbank.com
Nina Lux, +49 89 2880-11496, nina.lux@pfandbriefbank.com


Note to editors:
Galleon Capital Management ("GalCap Europe") is a real estate asset and investment manager specializing in Austria and the Central European countries and is based in Vienna. The company was founded in 2015 by the real estate and financial experts Dr. Manfred Wiltschnigg, Marco Kohla and Paul W. Hallam and has established itself as an active manager that identifies, acquires and manages real estate investments across the region in order to increase their value. In doing so, GalCap Europe always follows the approach of achieving defined yield targets at the lowest possible risk through targeted asset picking. GalCap Europe is asset manager of the open-ended specialized real estate fund GalCap - Austria Immobilien I. More information is available at: www.galcap-europe.com