ING, pbb and LBBW finance Sony Center, Berlin
pbb Deutsche Pfandbriefbank AG, Landesbank Baden-Württemberg (LBBW) and ING Wholesale Banking, acting as Mandated Lead Arrangers and Original Lenders, have provided the long-term financing for the Sony Center in Berlin. The EUR 625 million financing was provided to a joint venture of Oxford Properties Group and Madison International Realty. In addition, pbb acts as a facility and security agent for the financing.
The Sony Center at Potsdamer Platz in Berlin was developed by Tishman Speyer on behalf of Sony and completed in 2000. The complex consists of eight buildings, including a 26-storey office tower, and offers a total of almost 112,000 square meters of space that is available for rent and currently being used, among others, by Deutsche Bahn, Facebook, Sanofi, Sony and the State of Berlin. All the buildings have been constructed in accordance with the most advanced environmental standards and have been awarded the Gold certificate by the German Sustainable Building Council (DGNB).
“We are very pleased to finance an outstanding Berlin landmark property for Oxford and Madison. As a modern and energy-efficient building complex in prime location in Berlin, the Sony Center is in line with ING's sustainability philosophy", says Daniel Younis, Head of Origination ING Real Estate Finance Germany.