August 09, 2016

pbb provides €34 million medium term credit facility to IMMOFINANZ for the refinancing of Nimbus office building in Warsaw

pbb provides €34 million medium term credit facility to IMMOFINANZ for the refinancing of Nimbus office building in Warsaw

pbb Deutsche Pfandbriefbank provided an investment facility of €34 million to IMMOFINANZ. The proceeds will be utilized for the refinancing of the Nimbus office building in Warsaw. The transaction closed in July 2016.

Nimbus was the first office development project undertaken directly by IMMOFINANZ in Poland and offers a gross lettable area of 19,000 sqm. Located on the Jerozolimskie office corridor in Warsaw’s Ochota district, Nimbus is currently fully let to a mix of professional services, financial services and IT occupiers including, Euler Hermes, Marsh McLennan Companies (MMC), Nexity and Intelligent Technologies SA (ITSA).

Completed in 2014, the LEED (“Leadership in Energy and Environmental Design”) accredited Nimbus building was built to strict environmental standards and features balconies, terraces and numerous green spaces.

Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank said: "This is another transaction we have been able to complete with IMMOFINANZ, an important client whom we have been supporting across their core markets in CEE, Austria and Germany for many years. The deal underlines our continued strong interest in the CEE real estate markets, and Poland in particular.”

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