Great Swiss Stores AG secured a CHF 298m loan from pbb Deutsche Pfandbriefbank to refinance its Swiss retail portfolio. The portfolio comprises of 53 retail properties offering a total of 113,000 sqm of leasable space. The investments are situated mainly in Switzerland. Blue Asset Management is the portfolio’s asset manager.
“We have a long standing business relationship with the ultimate beneficial owner of this portfolio, and we know the assets well. On a very selective basis, we see business opportunities for our bank on the Swiss market. The country’s economy is on a solid growth trajectory, and we are observing an increase in international investor interest,” said Bernhard Scholz, a member of the management board at pbb Deutsche Pfandbriefbank.
