Patrizia and a Germany-based pension fund secured €331m in funding from Deutsche Hypothekenbank, ING Real Estate Finance and pbb Deutsche Pfandbriefbank to acquire a portfolio comprising 137 residential properties in the Netherlands from state housing association Vestia. The total price of the deal was €578m. Each bank put up about one-third of the total loan.
“We are delighted to be providing the financing, together with ING and pbb, for this remarkable deal. All consortium partners are therefore able to build further on their successful relationship with Patrizia,” said Andreas Pohl, speaker of the board of managing directors at Deutsche Hypo.
