pbb Deutsche Pfandbriefbank and an unnamed bank are providing a 鈧�100 mln refinancing package to a fund that owns a shopping centre and a training facility in Stuttgart.
pbb Deutsche Pfandbriefbank and an unnamed bank are providing a 鈧�100 mln refinancing package to a fund that owns a shopping centre and a training facility in Stuttgart.
pbb Deutsche Pfandbriefbank said it provided 鈧�40 mln of the overall facility for real estate fund DCSF Immobilien Verwaltungsgesellschaft Nr. 4 Objekt Stuttgart-Vaihingen. The second bank involved in the transaction did not wish to be named.
The transaction was closed in December 2012.
The purpose of the loan was to refinance the properties SchwabenGalerie and Daimler Global Training Center in Stuttgart-Vaihingen.
SchwabenGalerie is a shopping mall with a rental area of 40,000 m2 with retail accounting for 23,000 m2 of the space. Tenants include Kaufland,Media Markt, Aldi S眉d, dm Drogeriemarkt, Deichmann Schuhe and Takko Fashion. There are also office and storage facilities, a B眉rgerzentrum (citizens' advice bureau) and an Arcona design hotel.
Daimler Global Training Center is located in a further building, with more than 17,000 m2 office and training premises as well as its own training workshops. The complex was completed in 2004.
The initiator of the fund is Deutsche Fonds Holding, which has been creating funds for private individuals and institutional investors since 1992.
