The real estate asset manager and developer Aurelis Real Estate GmbH & Co. KG, which is active in the German real estate market, has agreed on a syndicated loan of €530 mln with pbb Deutsche Pfandbriefbank and an additional lender. As Lead-Arranger and Agent for the transaction, which was closed in March 2015, pbb provided a loan volume of € 430 mln. A further € 100 mln were provided by an additional lender. The loan is already available to Aurelis.
Joachim Wieland, CEO of Aurelis, said: “We have made use of the favorable interest rate environment and arranged for an early refinancing of our bank loans that mature in December 2016. Furthermore, this refinancing provides Aurelis with additional entrepreneurial and financial flexibility for acquisitions and investments into its rental and development portfolio. Based on this long term agreement, we will continue to implement our strategy of targeted expansion of our portfolio“.
Gerhard Meitinger, Head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank, said: “Aurelis has been a long time client of pbb and has over the past years managed its real estate portfolio very successfully. The newly structured financing provides Aurelis with increased scope of action".