pbb Deutsche Pfandbriefbank provided around EUR 140 mn to Heimstaden Berlin Residential 006 GmbH, a company owned by Heimstaden Bostad AB, which is one of the leading residential property companies in Europe. The facility supports the refinancing of the acquisition of a nearly fully-let residential portfolio located in Berlin. pbb has been working with Heimstaden in other European markets, including the Nordic Region and the Netherlands.
The portfolio consists of 35 properties mainly located in the Berlin districts of Mitte and Neukölln, and comprises 1.348 units with a total lettable space of 74,500 sqm. Flats account for around 93% of the rental space, the remainder being commercial rental space or parking spaces.