Germany’s state-owned Hypo Real Estate Holding has put pbb Deutsche Pfandbriefbank on the market. The state took full control of the bank in 2011, after Lehman Brothers collapsed. The European Commision approved the deal but stipulated that the German government will reprivatize the bank in 2015. Citigroup and Deutsche Bank will act as advisors.
One of the biggest lenders for the real estate sector, pbb Deutsche Pfandbriefbank reportedly issued €10.2bn worth of corporate loans in both the private and public sectors last year. The transactions included a refinancing loan allowing Point Park Properties to take over a logistics portfolio, the acquisition of Lipowy Office Park in Warsaw, the purchase of Prague Fashion Arena and Praha City Center, the acquisition of Poznań City Center, Pogoria in Dąbrowa Górnicza and Karolinka in Opole, as well as the takeover of the Segro European Logistics Partnership (SELP) platform.
