- € 29 million medium-term loan to refinance office property in central Helsinki
- Continued strong interest from both international and domestic clients for real estate investments in the Nordic countries
Munich/Stockholm, 22 June 2017 – pbb Deutsche Pfandbriefbank has provided a medium-term loan facility of € 29 million to Schroder Nordic Real Estate Fund. The loan was provided to refinance an office property located in central Helsinki. The transaction closed in May 2017.
The property comprises ca 24,000 sqm lettable office accommodation in Sörnäinen, a prime area of central Helsinki. The largest tenant is the City of Helsinki.
Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “pbb Deutsche Pfandbriefbank is delighted to have supported Schroder in the refinancing of this high quality office property and we look forward to extending our relationship with Schroders in the Nordics as well as in other European countries where the fund is active.
Andrew MacDonald, Head of Real Estate Finance at Schroders commented: "We are pleased to have concluded this loan with PBB, further strengthening our relationship with them across Europe. The loan will contribute towards the con-tinued growth of our Schroder Nordic Real Estate Fund, which now has assets of over €320m across Sweden and Finland."