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Pbb in €150m Swedish residential deal

The debt package will allow Heimstaden to finance the acquisition of six residential properties in Stockholm.

Pbb Deutsche Pfandbriefbank has provided a SKr1.4 billion (€150 million) loan to Heimstaden Bostad to finance a portfolio of residential properties in Stockholm.

The five-year loan funds the acquisition of four newly built and two newly refurbished residential properties in Råcksta, Flemingsberg and Haninge, known as “fast-growing” parts of Stockholm, the bank said. Pbb acted as agent and sole lender in the transaction.

“Residential properties in Stockholm are an attractive asset class with high demand from tenants. Due to the continued growth of Stockholm as well as Sweden, the Nordic region remains a key strategic market for pbb,” said Norbert Müller, head of real estate finance, Continental Europe West at pbb Deutsche Pfandbriefbank.

Pbb has recently closed several financings in the Nordics region.

Last month, it co-wrote a €67.2 million loan along with Helaba to finance CBRE Global Investors’ acquisition of the Skanssi shopping centre in the Finnish town of Turku.

In June, pbb provided a SKr410 million loan to Swedish investor Logistea, to fund the acquisition of a 42,000-square-metres logistics and office property located in the Swedish town of Landskrona.

Also in June, pbb provided an investment facility of SKr985 million to Bråviken Logistik, for the purchase of a logistics portfolio with properties located in the Swedish cities of Norrköping, Nyköping and Jönköping.