German bank makes comeback on Romanian real estate market

German bank pbb Deutsche Pfandbriefbank, the former Hypo Real Estate, which specializes in financing real estate operations, makes a comeback on the Romanian market after being nationalized by the German state. The lender announced that it provided a EUR 43 million financing to investment fund Revetas Capital for the purchase of the Landmark office project in Bucharest, local Economica.net reported. Cerberus Capital Management will join Revetas in this transaction. The Landmark is an A-class office complex in Bucharest’s central business district with an overall gross lettable area of over 23,500 sqm. Its tenants include law firm Wolf Theiss, lubricants distributor Total and tech company UiPath. “Revetas and Cerberus are long-standing clients of pbb and we are very pleased to accompany them into a market where institutional capital is once again finding opportunities. pbb is cautiously re-entering the Bucharest market and in doing so, we will continue to look, very selectively, at similar opportunities with our existing clients,” said Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank. editor@romania-insider.com (photo source: Thelandmark.ro)