pbb Deutsche Pfandbriefbank has provided a €110m, long-term refinancing facility to the Marc Asbeck family for a portfolio of office assets located in Bonn, Germany.
The portfolio consists of seven buildings in the prime office location of Bundesviertel, or government quarter. The offices are fully occupied by tenants such as Deutsche Post.
The Marc Asbeck family, which is based in Bonn, has been investing in commercial property in the city for almost 20 years. It counts The Max Planck Society and the University of Bonn among its tenants.
“The Marc Asbeck family is a successful real estate investor and its activities have accompanied the changes in Bonn over many years, from being Germany’s former capital to becoming a telecommunications and service centre,” said Gerhard Meitinger, head of real estate finance in Germany for pbb.
“In the North Rhine-Westphalia region, pbb is an active market participant with its office location nearby in Düsseldorf.”
On its website, the Marc Asbeck family said it had invested over €400m into Bundesviertel, which it described as the “top location for office properties” in Bonn. It is currently building the Tower Park Offices V in the city.
Since 1994, the family firm has refurbished the former headquarters of the Hesse, Rhineland-Palatinate, Saarland and Schleswig-Holstein state governments.