German lender Deutsche Pfandbriefbank has provided fund manager AEW Europe with a €57m facility to refinance a retail portfolio.
The portfolio consists of well-located cash and carry markets, DIY stores, supermarkets and one inner-city shopping centre in 17 different locations across Germany.
The funds were provided to German entities ultimately owned by two institutional investors.
pbb is acting as sole lender and hedge provider for this facility in the transaction, which closed in December 2013.
Charles Balch, pbb’s head of real estate finance international clients, UK and CEE, said: “With this transaction we continue to strengthen our long-standing relationship with AEW Europe as a key strategic client.”
bridget.oconnell@estatesgazette.com
