German lender pbb Deutsche Pfandbriefbank and Sweden's Skandinaviska Enskilda Banken (SEB) have provided a SEK 1.65 bn (EUR 180 mln) credit facility for the refinancing of Niam's News and Palmfelt office portfolios in Sweden.

In a statement on Tuesday, the two financial institutions said they acted as joint mandated lead arrangers in the debt restructuring. The assets, including four office buildings, three of them in Stockholm and one in Lund in southern Sweden, are owned by Niam III News AB, a company ultimately controlled by Niam Nordic Investment Fund III.

Both banks have equal shares in the underwriting of this transaction, and SEB also acts as facility agent. The transaction was closed on 13 June 2011.

'For pbb Deutsche Pfandbriefbank Scandinavia - and in particular Sweden - is within our core regional focus,' said Harin Thaker, head of Real Estate Finance International at pbb Deutsche Pfandbriefbank. 'This transaction shows pbb's continued competence on this particular real estate market.'