One of the biggest lenders on the European real estate market, pbb Deutsche Pfandbriefbank is scheduled to make its debut on the Frankfurt Stock Exchange this week. The IPO is expected to raise up to €1.4bn, with shares ranging between €10.75 and €12.75. The bank expects to place up to 80 percent of its shares on the market. The German government said it wants to secure a 20-percent stake in the bank within the next two years. Deutsche Pfandbriefbank is owned by Hypo Real Estate Group, which was nationalized by the German government in 2009. The previous owner was the private equity company JC Flowers.
Deutsche Pfandbriefbank’s loan activity for public and private investments around Europe totals €25.6bn. In Poland, the bank recently participated in the acquisitions of Poznań City Center (ECE), Lipowy Office Park (W.P. Carey) and Galeria Mazovia (CBRE European Shopping Centre).
