pbb Deutsche Pfandbriefbank finances acquisition of office building in Duisburg’s inner harbour with € 25 million (DE)

pbb Deutsche Pfandbriefbank financed the purchase of an office building in Duisburg’s inner harbour by CanCorp Duisburg I S.á.r.l., the joint venture of INOVALIS REIT (Canada) and a strategic investment partner. The trans-action has a volume of approximately € 25 million and was closed in July 2014.
The office building is situated in a sought after position in Duisburg’s inner harbour. The property offers around 20,000 m² of office space. The company Mitsubishi Hitachi Power Systems Europe GmbH has a long term lease on the building complex.
Gerhard Meitinger, Head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank, said: “Germany, given its economic stability, is a core market for pbb Deutsche Pfandbriefbank. This financing is a good example of the current trend on the German real estate market: Excellent real estate situated in very good city locations is of increasing interest to investors, even if the cities themselves are not absolutely prime locations. With pbb’s set-up in the regions, the bank can provide nation-al and international investors with local expertise.”
Source: pbb Deutsche Pfandbriefbank