Cologne: pbb finances development on Deutz Area
The Düsseldorf project developer Gerchgroup has secured financing for the development of the former Deutz AG premises in Cologne’s Mühlheim district. The pbb Deutsche Pfandbriefbank in Munich is providing a €140mn loan as acquisition financing for the approx. 160,000 sqm site, on which a new city quarter is to be built in the next years. The development planning process is currently in the coordination phase with the city of Cologne; the property is to be primarily residential, with approx. 1,000 units. Gerchgroup wants to invest €1bn in the site, according to previous communications.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.