German Property Crisis Hits PBB, LEG, and Aroundtown with Billions in Losses
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#2a2dc8a8 ver:0.15
In addition to the challenges faced by the German property market, several major players in the industry are now grappling with significant losses. Deutsche Pfandbriefbank (PBB), a German property lender, is facing its own crisis as its shares have plummeted this year due to short sellers betting against the bank. PBB has reassured investors that it has enough funds to handle a major downturn in the US commercial real estate market, but the situation remains challenging .
PBB's troubles stem from its expansion into the US market and its recent announcement of a significant increase in risk provisions related to financing of US offices. The bank has assured investors that it has enough capital to withstand the crisis, but its shares have fallen sharply as short sellers target the bank. PBB...
#newstr #GermanPropertyCrisis #DeutschePfandbriefbank #Leg #Aroundtown