Bank Austria and pbb provide €300 mln facility to IMMOFINANZ Group (AT)

In one of the biggest financing transactions in Austria in recent years, Bank Austria and pbb Deutsche Pfandbriefbank have jointly underwritten a € 300 mln senior facility for IMMOFINANZ Group. The proceeds are being utilized to refinance a prime real estate portfolio in Austria with 38 properties and around 218,000 m² Gross Leasable Area (GLA).
The mixed used portfolio primarily consists of office and residential assets. The majority of buildings is located in Vienna.
Reinhard Madlencnik, Head of Real Estate Bank Austria, said: “We are pleased to provide the financing for this notable real estate portfolio and to further strengthen our longstanding successful partnership with IMMOFINANZ Group.”
Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank, commented: "Over the years we have worked with a number of our international clients in Austria who are also active in various CEE markets. We are pleased to support our client IMMOFINANZ Group with this landmark financing transaction. In general, Austria is one of the markets where we see further potential for pbb.”
Source: pbb Deutsche Pfandbriefbank