German property group IVG Immobilien has extended the financing for the Pegasus-Portfolio expiring in the fourth quarter of 2011.

The announcement comes shortly after the restructuring of roughly EUR 500 mln of debt securitised against The Squaire office project at Frankfurt International Airport.

The Pegasus-Portfolio was bought in 2007 as part of a portfolio transaction and consists of 15 properties in six German locations with a lettable space of 175,000 m2. The financing has a planned maturity of two years and was extended with the current volume of EUR 145 mln. IVG Immobilien said on Tuesday that it expects unchanged financing costs.