- € 35 million long term loan facility provided towards the acquisition of an office property in CBD of Helsinki, Finland
- Continued strong interest from both international and domestic clients for real estate financing in the Nordic countries
Munich/Stockholm, 26.02.2019 – pbb Deutsche Pfandbriefbank has provided a
6 year loan facility of € 35 million to Schroder Nordic Real Estate Fund. The loan was provided to partly finance the acquisition of an office property located in the Kamppi district of Helsinki.
The property comprises ca 11,200 sqm lettable office accommodation located near the Kamppi Shopping Centre and adjacent to the central Helsinki bus station and the Kamppi metro station. The largest tenant is Senate Properties, a state-owned enterprise.
Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “pbb Deutsche Pfandbriefbank is very pleased to have supported Schroders in their acquisition of a high quality office property in the CBD of Helsinki. We continue to see strong interest from both international and domestic clients for investments in real estate in the Nordic countries.”
Andrew MacDonald, Head of Real Estate Finance at Schroders commented: "The acquisition of this high quality office asset supports the continued growth of the Schroder Nordic Real Estate Fund, which now has assets of €0.6bn across the Nordic region. As part of this deal we are very pleased to have expanded our relationship with pbb Deutsche Pfandbriefbank, which we hope to continue to build on as we acquire further assets across Europe."
Walter Allwicher, +49 89 2880-28787, walter.allwicher(at)pfandbriefbank.com
pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a leading specialist lender for financing commercial real estate and public investments in Europe and the United States of America. pbb is a major issuer of Pfandbriefe, which makes it also an important player in the European covered bond markets overall. pbb is listed on the Frankfurt Stock Exchange.
In real estate finance, the bank’s primary target of new business is professional real estate investors and developers. Core asset classes financed include office, retail, residential, logistics/warehouse properties and hotels. The regional focus is on Germany, the UK, France, the Nordic Countries, selected countries in Central and Eastern Europe and Spain. pbb is also active in selected regions in the US.