18 September 2012

pbb Deutsche Pfandbriefbank opens office in Stockholm, Sweden

Munich/Stockholm - 18 September 2012 - pbb Deutsche Pfandbriefbank, a specialist lender for real estate finance and public investment finance, has opened a new office in Stockholm. From this location, the bank will serve real estate investors on the Scandinavian market. The emphasis will initially be on Sweden and Finland. 

Anders Tägt has been appointed Stockholm Branch Manager. Including Anders, the team will initially consist of four real estate finance experts, with an addition of two further staff to the team being planned for 2013

pbb already closed its first transaction on the Scandinavian market. In August 2012 it provided funding in a volume of SEK 464 million (approx.: € 56 million) to NLI Fastigheter Holding AB, a subsidiary of the Norwegian property company NLI Eiendomsinvest AS. The loan will be used for the refinancing of a logistic portfolio which consists of five well-let properties with a total space of 126,199 m². The properties are situated in strategic locations in the south of Sweden, including Malmö, Västerås and Lidköping. 

Dr. Bernhard Scholz, Member of the Management Board at pbb Deutsche Pfandbriefbank, commented: “With the opening of the office in Stockholm, pbb Deutsche Pfandbriefbank rounds off its geographical presence, being represented in important European real estate markets. The Scandinavian market has shown exceptional stability and we are seeing increasing interest from national and international investors.” 

Anders Tägt, Head of Stockholm branch office, added: “Our local presence allows us easier access to our Scandinavian customers. At the same time we are improving the services we can offer international and cross-boarder customers with our connection to the pbb network and locations in Munich, London, Paris and Madrid.” 

Through its predecessors pbb Deutsche Pfandbriefbank was active in Scandinavia from 2001 to 2009 and as of June 30th, 2012 had a loan portfolio of ca. € 1.6 bn (EaD). 

pbb Deutsche Pfandbriefbank is a leading European specialist lender for real estate finance and public investment finance. The main funding instrument is the German Pfandbrief, of which the Bank is one of the largest issuers in the market. pbb Deutsche Pfandbriefbank is active in markets in Germany and other European countries. 

Source: pbb Deutsche Pfandbriefbank