pbb Deutsche Pfandbriefbank provides £33 mln. of acquisition finance to F&C REIT Asset Management and AREA Property Partners (DE/UK)

pbb Deutsche Pfandbriefbank has provided an approx. £33-million (approx. €38-million) facility to AREA Property Partners, F&C REIT Asset Management and ESAS Holding.

The loan funds the acquisition of a portfolio of nine regional office properties across the UK. The transaction closed on November 1, 2011.

Harin Thaker, Head of Real Estate Finance International at pbb Deutsche Pfandbriefbank said: "This is the second loan we have closed this year with F&C REIT Asset Management and AREA Property Partners, who are both long-standing pan-European clients of the bank, and we look forward to working with them again in the future."

Zvi Noé, Director of Investments at F&C REIT, commented: "We were delighted to have secured this loan with pbb Deutsche Pfandbriefbank. The deal allowed us and our partners to acquire a high quality portfolio in line with our investment strategy and we look forward to continuing our strong relationship with the bank going forward into 2012."

Source: pbb Deutsche Pfandbriefbank

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