pbb and Commerzbank have provided approximately € 200 million financing to Signature Capital. The loan will be used to finance the acquisition of the “Arrow” office portfolio in Berlin and includes a facility to refurbish the buildings. Both banks acted as Co-Arrangers and provided equal shares of the loan. pbb acts as Facility and Security Agent.
The “Arrow” portfolio comprises four monumental properties located in the heart of Berlin. They provide approximately 36,000 m² of rental space which is predominately used as offices. Signature Capital acquired the portfolio in August 2019. The business plan foresees a comprehensive refurbishment of the properties and a subsequent repositioning in the Berlin office market.
pbb and Commerzbank have a long-standing business relationship with Signature Capital and have provided several financings in the past.
Gerhard Meitinger, Head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank said: "We are very pleased to support Signature Capital in this project to revitalize and expand four inner-city office complexes in the prime segment of the Berlin market. Signature has a proven track record both in Berlin and for such projects and we are very pleased to further strengthen our relationship with this partner as well as working together with Commerzbank.”
"Over the past few years, we have established a trusting customer relationship with the Signature Group in various project financings and are pleased to once again support a promising investment from Signature in the prospering Berlin market," said Siegfried Eschen, Head of the Center of Competence Commercial Real Estate Finance at Commerzbank.
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