- EUR 36.5 million acquisition and capex financing package
- Funding for the acquisition of four office properties located
in the Keilaniemi office area in Espoo, Finland
Munich/Stockholm, 15-Jun-2017 — /EuropaWire/ — pbb Deutsche Pfandbriefbank provided an acquisition and capex facility of EUR 36.5 million to support an acquisition made by Alma Property Partners. The loan was provided to support the acquisition and refurbishment of four office properties located in the Keilaniemi office area in Espoo, the second largest city in Finland and part of the Helsinki metropolitan area. The transaction closed in April.
The multi-let properties comprise of ca 24,500 sqm lettable area, whereof 18,000 sqm is office space. The Keilaniemi office area is one of the more sought after office locations in greater Helsinki. Its attractiveness is expected to further improve with the opening of the new metro station in 2017.
Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb, said: “The Nordics are strategic market for pbb where we continue to see strong interest from clients. We are a proud partner of Alma Property Partners in what is their largest investment in the Nordics to date. ”
Robert Landtman, Partner at Alma Property Partners added: “We are very excited to work on creating and leasing fully refurbished office space in this excellent location. We believe that the properties will be of interest to high-quality blue chip tenants. In pbb we found a financing partner that shares our view on the strength of the properties and supports our business case.
Note to editors:
pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a leading European commercial real estate and public investment lender. It is the largest issuer of Pfandbriefe and an important issuer of covered bonds in Europe. Deutsche Pfandbriefbank AG is listed on the Frankfurt Stock Exchange.
In addition to Germany, the main business focus is on the UK, France, the Nordic countries and selected countries in Central and Eastern Europe. In these core markets, pbb offers its customers a strong local presence with expert knowledge across the whole spectrum of the financing process. As a result of its competencies in loan structuring, its cross-border approach and co-operation with funding partners, pbb is able to complete both complex financings and cross-border transactions.
Walter Allwicher, +49 89 2880-28787, email@example.com
SOURCE: Deutsche Pfandbriefbank AG