pbb Deutsche Pfandbriefbank has provided a credit facility of approximately €39m for the acquisition of a Class-A office property in Vienna to a fund managed by Inmark Asset Management on behalf of various South Korean investors and with Rock Capital as the local asset manager. pbb acted as arranger and sole lender under the facility.
The fully let building comprises around 18,500m² of rentable space spread over seven floors and is also the headquarters of UBM Development and PORR AG, which is one of the largest construction companies in Austria. The property is well situated in Vienna’s 10th district.
Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "This is the second office tower that PBB has financed in this vicinity and with Porr as the main tenant. The Vienna office market shows strong fundamentals, making this an attractive property to finance.”