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German lender pbb Deutsche Pfandbriefbank has provided a loan of around €63 mln to finance Deutsche Wohnen’s acquisition of a residential portfolio at end-April.

Pbb said it is financing the deal together with other banks. The part of the portfolio financed by the lender comprises around 2,240 of the total 6,900 residential units which are located mainly in Berlin. Other locations are Potsdam and Eberswalde.

MDAX-listed Deutsche Wohnen acquired the portfolio from US private equity firm Blackstone in a €390 mln cash and shares transaction.

Commenting on the deal, Gerhard Meitinger, head of real estate finance Germany at pbb Deutsche Pfandbriefbank, said: ‘Deutsche Wohnen is a long-standing client of pbb Deutsche Pfandbriefbank, and we have already worked together on various complex large-volume transactions. We intend to further expand our activities in Berlin.’