pbb and LBBW complete financing of 300m loan facility for Pembroke’s Maximilianhöfe in Munich

09.02.2022

pbb Deutsche Pfandbriefbank and Landesbank Baden-Württemberg (LBBW) have jointly underwritten a long-term investment facility, totaling €300 million, to refinance Pembroke’s Maximilianhöfe, a prime mixed used asset, in Munich. pbb Deutsche Pfandbriefbank and LBBW acted as Joint Lead Arrangers and provided equal portions of the funding, with pbb acting as facility and security agent of the transaction.

Comprising over 20,000 sq m of world-class mixed-use space, Maximilianhӧfe is one of Munich’s prime luxury retail destinations and is an integral part of the city’s vibrant retail, leisure, and cultural offer. Located on Maximillianstrasse, Munich’s exclusive luxury retail street, the building is fully let and home to a range of international office occupiers, leading luxury brands and dining offerings, alongside 80 underground car parking spaces.

Nick Moldon, Senior Vice President and Head of UK and Germany at Pembroke said: “We are delighted to have completed on a new financing facility for Maximilianhöfe, working with trusted partners pbb Deutsche Pfandbriefbank and LBBW. This further highlights our confidence in this fantastic asset, which is fully let to some of the biggest international brands and leading luxury retailers. We look forward to continuing to manage this world-class property and deliver the best outcomes for our tenants by enriching the communities in which they work.”

Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank, said: "We are pleased to have worked with our partner LBBW to support the financing of this prime mixed use asset in Munich. This is the third transaction we have been able to complete with Pembroke and we would be happy to support them in Europe and the US.”

Patrick Walcher, Global Head of Real Estate at LBBW added: “Alongside our financing partners at pbb, LBBW are pleased to announce the successful financing of Maximilianhöfe in this well-known and central location in Munich. We thank Pembroke for their confidence and look forward to develop our relationship further in Europe and in the USA. Pembroke’s long-term investment approach perfectly matches LBBW’s real estate lending strategy.”