German lender pbb Deutsche Pfandbriefbank has provided a credit facility of €170 mln in a club deal together with CaixaBank to European Property Investors Special Opportunities 4, LP (EPISO 4), an investment fund advised by Tristan Capital Partners.
The funds will refinance the acquisition of a Madrid office portfolio from Colonial.
'We are very pleased to support Tristan Capital Partners, a strategic client for pbb for many years in major markets across Europe, in a further transaction. This deal also underlines our continued strong interest in the Madrid office market,' said Norbert Müller, Head of RE Finance Continental Europe West at pbb Deutsche Pfandbriefbank.
The portfolio consists of six office assets located in well located and established office sub-markets of Madrid, providing 77,000 m2 of Grade A office accommodation, and let to over 80%.