Ashurst has advised pbb Deutsche Pfandbriefbank AG ("pbb") on the financing of the acquisition of the Germany-wide commercial real estate portfolio "New Wave" by the Investa Property Group. Pbb provides a loan in the amount of EUR80m for the financing completed in June 2015.
Investa acquired the portfolio comprising 41 inner-city properties in the second quarter of 2015 from Euro Castle Investment.

The Ashurst-Team was led by Munich banking partner Sebastian Schoon. He was supported by counsel Christiane Bestgen, associate Isabell Pöller and transaction manager Anna Caterina Zoth (all banking, Munich). Senior associate Dr Hendrik Theismann from Frankfurt advised on real estate law.

Investa has mandated DLA Piper with partner Frank Schwem and senior associate Dr Katalin Legradi.

PBB is a specialist bank for commercial real estate financing and public investment financing. The business focus is on Germany, Great Britain, France, the Nordic countries as well as countries in Central and Eastern Europe.