pbb and Kreissparkasse Köln has provided EUR 162 million to CODIC for the realisation of an office building in Düsseldorf's “Medienhafen”. Kreissparkasse had already financed the purchase of the property in advance. In the joint syndicated financing, pbb took over the structuring of the loan and acted as mandated lead arranger.
In June 2017, CODIC acquired two plots of land in Düsseldorf's "Plockstrasse", on which the ultra-modern landmark office property "MIZAL" is now to be built as a "SMART Office" concept. The office complex is already fully let to a group of agencies on a long-term basis.
The building ensemble consists of several parts that are offset from each other. The most striking element of the campus is the eleven-storey "Mirador" office building, which is intended to convey a dynamic, future-oriented image. Park-like, green roof gardens lend the campus an urban character. The MIZAL Campus offers tenants a total office rental area of around 34,000m² and 530 underground parking spaces. The new MIZAL Campus offers tenants an attractive and central location in the immediate vicinity of the Media Harbour. Completion is scheduled for the end of 2021.
CODIC is a Düsseldorf-based project developer with more than 30 years of experience, operating nationwide and specialising in the development of sustainable residential and office properties.
Gerhard Meitinger, Head of Real Estate Financing Germany at pbb, said: "We are pleased to be able to accompany the construction of this highly modern office development in financing. The building is a highlight in the city of Düs-seldorf in terms of architecture, technical equipment and future use."
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