pbb Deutsche Pfandbriefbank to provide financing of €208 million for Deutsche Annington (DE)

pbb Deutsche Pfandbriefbriefbank has refinanced two real estate portfolios for Deutsche Annington.

The entire loan volume of the transaction amounts to €208 million. The loan agreements were signed at the end of April 2013, and the funds were paid out at the beginning of July 2013.

The portfolios are named "Roosevelt" and "Wilson", and consist of a total of more than 6,400 residential units. At present, the "Roosevelt" portfolio consists of 3,329 residential units spread over a total of 731 buildings. These are mainly to be found throughout Baden-Württemberg, and have a total rental area of approximately 242,577 m². The "Wilson" portfolio consists of 3,082 residential units. The properties are located in Hesse and the Rhineland-Palatinate, and have a total rental area of approximately 222,186 m².

Gerhard Meitinger, Head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank, says: "pbb Deutsche Pfandbriefbank is pleased to be a financing partner of Deutsche Annington. The German residential real estate market is stable, and continues to offer good opportunities in conjunction with low volatility. This transaction demonstrates our ability to quickly execute large-volume and complex financing solutions."

Source: pbb Deutsche Pfandbriefbriefbank

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