Press Release.

15.12.2014

LBBW sole lender for the purchase of the "PalaisQuartier" real estate complex in Frankfurt

Landesbank Baden-Württemberg (LBBW) is providing the finance for the purchase of "PalaisQuartier" in Frankfurt as the sole lender. Hamburg shopping mall specialist ECE and special-purpose funds established by Deutsche Asset & Wealth Management (Deutsche AWM) have acquired the centrally located complex from Dutch company KP Investments for around EUR 800 million. The parties have agreed not to disclose the loan amount, which is within the range typical of such finance.

There are no plans to syndicate the loan. "In this way, LBBW is demonstrating once again that it is able to execute even large-scale projects professionally in its core real estate finance business," said Thorsten Schönenberger, Global Head of Real Estate at LBBW.

Contacts

Landesbank Baden-Württemberg
Am Hauptbahnhof 2
D-70173 Stuttgart

Rüdiger Schoß
Manager Press Department
Tel.: +49 711 127-76432
Fax: +49 711 127-76274

ruediger.schoss@LBBW.de