WestImmo expands its position as agent and arranger of commercial real estate financing in savings bank association

Mainz, 2 July 2009 – Westdeutsche ImmobilienBank AG (WestImmo) has syndicated commercial real estate loans with a total volume of some €130m to savings banks from six German regions, compared with about €90m to savings banks for the whole of 2008. The financed properties essentially comprise retail and office real estate in major German cities and conurbations with a market value totalling about €550m and a financing volume of €275m.

WestImmo arranged the individual financing deals and will continue to manage them as syndicate leader. Within the syndicate it remains the biggest single lender for each financing package, thereby retaining a substantial part of the total volume on its own books. For the bank’s partner institutions this fundamental business policy is a crucial basis for collaboration. Savings banks can in turn diversify their loan books and generate additional income by participating in the low-risk real estate financing offered by WestImmo.

“We are delighted that savings banks from all over Germany are showing this confidence in us and participating in our financing deals”, said Peter Knopp, Chairman of WestImmo’s Managing Board. “The collaboration with our association partners is very important to us and works in both directions, as these transactions demonstrate.”

WestImmo also participates reciprocally in real estate financing organised by the savings banks where the size of the package or risk aspects mean that these institutions cannot deliver them on their own. In 2008 WestImmo pulled in €210m of new business through this joint lending with savings banks, some 13% more than in 2007.