LONDON – Värde Partners, a leading global investment firm specializing in credit and credit-related assets, today announced that an affiliate of Värde has provided €100 million in financing to PANDION AG, an established real estate developer specializing in high-quality residential and commercial projects in prime German locations.
The financing is secured by a portfolio of 13 PANDION residential projects in major German cities, including Berlin, Munich, Cologne, Bonn, Düsseldorf and Stuttgart. A significant portion of these projects are in advanced stages of development or construction.
The strategic financing closed in parallel with the extension of PANDION AG’s corporate bond, thereby implementing the key components of the company’s corporate financing. These measures strengthen the company’s financial base and create the structural conditions required for the continued execution of the company’s project pipeline.
“We are pleased to partner with PANDION and to provide flexible financing that enables the company to build on its long-standing track record of delivering high-quality residential developments across Germany,” said Vishal Kumar, Managing Director at Värde Partners. “This transaction reflects our confidence in the attractiveness of the German residential market and in Värde’s ability to deliver tailored capital solutions supporting the development of prime real estate assets across Europe.”
“Following the closing of the financing with Värde and the extension of our corporate bond, we have laid the foundation for the restructuring of our corporate financing, enabling us to refocus on our core development activities,” said Reinhold Knodel, Chief Executive Officer of PANDION AG.
Värde has over 30 years of experience investing in real estate credit and assets with deep expertise across all major asset classes. Värde’s global real estate team is supported by in-house asset management professionals as well as a partnership with an industry-leading servicer and asset manager. As an originator of real estate credit solutions, Värde seeks to provide flexible capital and certainty of execution to borrowers.
About PANDION AG
PANDION AG, headquartered in Cologne, has been developing, realizing and marketing high-quality residential projects since 2002. Since 2014, the company has steadily expanded its activities in the commercial real estate sector. The owner-managed real estate company develops sites at its headquarters as well as in Bonn, Düsseldorf, Munich, Berlin and Stuttgart.
PANDION is currently planning and developing more than 4,000 high-quality residential units nationwide and approximately 200,000 sqm of modern office space under its PANDION OFFICEHOME brand. The total sales volume amounts to more than €5.17 billion, of which approximately €3.3 billion relates to the residential segment. PANDION AG employs around 200 staff across its offices in Cologne, Munich, Berlin and Stuttgart.
About Värde Partners
Värde Partners is a leading global investment firm specializing in credit and credit-related assets. Founded in 1993, the firm has invested more than $110 billion across the credit quality and liquidity spectrum and currently manages $16 billion in assets. With local investment teams and partnerships in North America, Europe and Asia Pacific, Värde invests across private and public markets with a focus on real estate, asset-based finance and corporate credit. For more information, please visit www.varde.com.