pbb Deutsche Pfandbriefbank has arranged a SEK 550 million (approx. € 65 million) medium term acquisition financing facility to Victoria Park Nygård AB, a wholly owned subsidiary to the listed property company Victoria Park AB. The transaction closed on August 20, 2013.
The two residential portfolios consist of some 176,000 m² distributed over 2,178 apartments, with the vast majority of the portfolio in the Swedish town of Linköping and a minor part located in Markaryd.
Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank said: “I’m very pleased to be able to announce a further deal closed by pbb in Sweden. The residential market offers attractive risk-adjusted returns and we are keen to grow our exposure in this market segment. Our Stockholm based team is working on further transactions, Sweden remains our major market within the Nordic countries.”
Greg Dingizian, CEO at Victoria Park AB explained: “The deal is of strategic importance to Victoria Park. With the acquisition we take a big step in our ambition to establish Victoria Park as a major player in the Swedish residential market.”