Deutsche Hypothekenbank, ING Real Estate Finance and pbb Deutsche Pfandbriefbank are financing the acquisition of a portfolio comprising 137 residential properties in the Netherlands. The borrower is an institutional real estate fund managed by the PATRIZIA Group.
The financing volume amounts to €331 million, of which the three consortium partners will commit one third each.
This makes the transaction the largest deal in the Dutch Real Estate Market in the preceding twelve months. Deutsche Hypo is acting as Mandated Lead Arranger, Agent und Bookrunner; ING Real Estate Finance as Mandated Lead Arranger; and pbb as Co-Arranger.
The financed property portfolio consists of 137 apartment blocks, located in the central and southern provinces of the Netherlands. In total, these comprise approximately 5,500 individual apartments with a combined leasable area of circa 370,000 m².
“We are delighted to be providing the financing, together with ING and pbb, for this remarkable deal. All consortium partners are therefore able to build further on their successful relationship with PATRIZIA”, said Andreas Pohl, speaker of the Board of Managing Directors for Deutsche Hypo, speaking on behalf of the consortium.
“The Dutch residential market has proved to be extremely stable for a number of years now. Thanks to birth surplus and immigration, the prognosis for population growth stands out positively against those of other EU states. Accordingly, we expect to see sustained high demand for residential space in the Netherlands.”
Source: Deutsche Hypo