German lender pbb Deutsche Pfandbriefbank has provided a long-term loan of 鈧�108 mln to TAG Wohnen, a subsidiary of TAG Immobilien.
German lender pbb Deutsche Pfandbriefbank has provided a long-term loan of 鈧�108 mln to TAG Wohnen, a subsidiary of TAG Immobilien.
TAG will use the funds to refinance a real estate portfolio comprising 96 properties and around 3,700 residential units, which it took over with the acquisition of TLG Wohnen from the German government in 2012.
The properties are spread over 18 locations in the states of Mecklenburg-Western Pommerania, Brandenburg, Berlin and Saxony-Anhalt.
'Pbb Deutsche Pfandbriefbank and TAG Immobilien AG are connected by a long-standing and successful business relationship,' said Gerhard Meitinger, head of Real Estate Finance Germany at pbb Deutsche Pfandbriefbank. 'In recent years, we have provided several financing arrangements to the listed housing company, as we are convinced of the strategy and quality of asset management.'
