Deutsche Pfandbriefbank : 07.08.2019 pbb provides financing for the "EDEN Tower" in Frankfurt/Main

Munich, 7 August 2019 - For the construction of the EDEN residential tower in Frankfurt's Europaviertel, pbb has provided EUR 110 million to Belgian company Immobel. Together with the adjactent office and hotel tower THE SPIN, this is the second building in the quarter, which pbb has financed.

At the entrance to the Europaviertel and opposite the Grand Tower, a residential tower with 27 floors and a height of approximately 98 metres is being developed. The EDEN Tower will be the second high-rise residential building in the Europaviertel and offers space for 263 condominiums over around 15,000 m² living space. In addition to three penthouses, the EDEN will mainly contain one- to three-room apartments. The residential concept will be complemented by a 24/7 concierge service and a private gym.

EDEN will stand out above all through its vertical gardens. The planting systems on the façade will create a vertical green area of around 2,000 square metres, which will significantly improve the microclimate in the planned apartments and also have a positive effect on the ecological balance of the Frankfurt city area. The construction of an underground parking area has already started; completion of the property is scheduled for end of 2021.

Immobel SA is one of the leading project developers in Belgium and has been active primarily in Belgium, Luxembourg, Poland, Spain and France. With EDEN, Immobel is now also entering the German market.

Gerhard Meitinger, Head of Real Estate Finance Germany, said: 'We are delighted to finance a spectacular piece of architecture with a very sustainable building concept, while at the same time enabling the project developer Immobel, which has been operating successfully for decades, to enter the German market.'

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