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.

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