Pbb Deutsche Pfandbriefbank has provided a total of €120 million ($133.8 million) in loans on the acquisition of ten properties in Western Germany. The lender provided the loans to affiliates of the Catalyst Capital European Property Fund II that purchased the portfolio from TRIUVA (formerly IVG Institutional Funds) and a large German public sector pension scheme.
Bernhard Scholz, the member of pbb Deutsche Pfandbriefbank’s management board with responsibility for real estate finance and public sector finance, will leave the German bank when his current contract ends in April 2017.
pbb Deutsche Pfandbriefbank has provided a €63m senior loan to Cerberus Capital Management to refinance three German retail properties. The funds will also be used to refurbish the three shopping centres located in Bielefeld, Bonn and Konstanz.