pbb Deutsche Pfandbriefbank has provided loans in a total amount of approximately €120 million to various property companies of Catalyst Capital European Property Fund II (CEPFII). The funds will be used for the acquisition of a real estate portfolio in five federal states in Western Germany. The closing of the transaction took place in July 2016.
The purchased portfolio consists of ten properties with a total floor space of around 93,000 sqm. Portfolio sellers were TRIUVA Kapitalverwaltungsgesellschaft mbH and a large German public sector pension scheme. The portfolio comprises nine office buildings and one commercial property in the towns of Bielefeld and Recklinghausen, and in the cities of Bremen, Dortmund, Düsseldorf, Essen, Frankfurt, Cologne, Munich and Stuttgart. Catalyst Capital GmbH will take over the Asset Management of the portfolio.
Charles Balch, Head of Real Estate Finance International Clients, UK & CEE at pbb Deutsche Pfandbriefbank, said: “Catalyst Capital is a long-standing client of pbb and an experienced asset manager for real estate portfolios. We have already cooperated with them successfully on various deals across Europe, and it was a pleasure to once again work together on this transaction.”
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