January 31, 2017

pbb provides €170 million in financing to RFR and DC Values

pbb provides €170 million in financing to RFR and DC Values

pbb Deutsche Pfandbriefbank has provided a €170 million loan to property companies of a joint venture between the RFR Group and DC Values. The facility was provided during the 2016 financial year. The funds were used to finance the acquisition of the office and retail complex at Leipziger Platz 14-16, as announced by the companies on 23 December 2016.

The properties acquired by HGHI Holding GmbH comprise a total lettable area of around 22,500 sqm‚ and 113 parking spaces. The building use is divided into offices (around 60 percent of the total area), retail space (around 30 percent), as well as apartments and storage space. Anchor tenants include Uniqlo, Vodafone, and Superdry.

Gerhard Meitinger, Head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank, said: "The location of the financed properties at Leipziger Platz – in the close vicinity of Potsdamer Platz – is perfect, with excellent connections to Berlin's transport network and infrastructure. pbb and the investors have already cooperated successfully several times in the past – we admire their professionalism and value their long-standing experience in the high-street retail segment.”

New Work 1