Lending

Tristan Capital and Avestus Capital Partners have jointly purchased an office park in Poland with a €71m five-year loan from pbb Deutsche Pfandbriefbank. The new facility will be used to acquire Enterprise Park and adjacent development land in Kraków.

“Off-the-radar” secondary assets in established markets offered the best opportunity for good returns from real estate debt, according to a report by TH Real Estate. The UK Commercial Real Estate Debt report also said the UK property finance market was the largest, most transparent, most competitive and, critically, most creditor friendly in Europe.

pbb Deutsche Pfandbriefbank has provided an additional €387m of financing to Scandinavian light industrial and warehouse specialist Sagax. “The Scandinavian real estate markets show exceptional stability with increased activities from both domestic and international investors. Sagax is our largest client in the Nordic countries and we can look back on a successful business relationship of more than twelve years. The company has an excellent track record demonstrating a stable and sustainable growth over the years,” said Norbert Müller, pbb's head of real estate finance, continental Europe West.