pbb has provided €110m to Belgian company Immobel for the construction of the EDEN residential tower in Frankfurt's Europaviertel. The scheme is the second project financed by pbb in the up-and-coming quarter.
Located at the entrance to the Europaviertel and opposite the Grand Tower, the property will comprise 15,000m² spread over 27 floors and offering c.263 condominiums. In addition to three penthouses, the EDEN will mainly contain one- to three-room apartments. The residential concept will be complemented by a 24/7 concierge service and a private gym. The EDEN Tower will be the second high-rise residential building in the Europaviertel. The construction of an underground parking area has already started. The completion of the property is scheduled for the end of 2021.
Gerhard Meitinger, Head of Real Estate Finance Germany, said: "We are delighted to finance a spectacular piece of architecture with a very sustainable building concept, while at the same time enabling the project developer Immobel, which has been operating successfully for decades, to enter the German market."
