pbb Deutsche Pfandbriefbank provided an investment loan facility of around EUR 30mn to a real estate fund managed by Catalyst Capital LLP. The fund has utilised the proceeds for the acquisition of the LEED Gold certified office building “Arnulfstr. 199” in Munich. pbb acted as arranger and sole lender under the facility.
Arnulfstr. 199 is an office building located in Munich’s Neuhausen-Nymphenburg district. The office space is fully let to a very good tenant mix. The property was originally constructed in 1970 and was completely refurbished – including and, in accordance with, LEED gold certification – in 2013/2014. It comprises a lettable area of approx. 10,713 m².
Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "We are very pleased to support Catalyst Capital LLP across Europe and in this case with a German office acquisition.”
Sven Ley, Associate Director at Catalyst Capital LLP said: “The high quality asset offers upside potential in re-gearing the existing leases while providing a strong cash flow.”