Immofinanz refinances Warsaw offices with pbb

Immofinanz, the Austrian property developer, has sourced a €34 million loan from pbb Deutsche Pfandbriefbank to refinance an office building in the Polish capital Warsaw.

The German bank provided the medium-term facility to refinance the Nimbus office building, which was the first office development project to be undertaken directly by Immofinanz in Poland. The deal closed in July.

The 19,000 square metre Nimbus is located on the Jerozolimskie office corridor in Warsaw’s Ochota district, on the fringe of the city centre. The scheme completed in 2014.

Nimbus is fully let to a mix of professional services, financial services and IT occupiers including Euler Hermes, Marsh McLennan Companies, Nexity and Intelligent Technologies SA.

“This is another transaction we have been able to complete with Immofinanz, an important client whom we have been supporting across their core markets in CEE, Austria and Germany for many years. The deal underlines our continued strong interest in the CEE real estate markets, and Poland in particular,” said Charles Balch, head of international clients, UK & CEE at pbb Deutsche Pfandbriefbank.