Transformation with
a future A new life for old walls

Wandel mit Zukunft

Redesign existing buildings on a grand scale to give them new purpose – the idea is anything but new. However, in the face of today’s – and tomorrow’s – challenges, this approach is currently experiencing a strong resurgence. What makes transformational real estate so exciting and attractive?

Corporate Report (PDF)

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Those who know the area rub their eyes in disbelief at Mariendorfer Weg in Berlin’s Neukölln district: the listed façade of the former maternity and women’s hospital is gleaming with new splendour. Where once the sick were treated and new citizens were brought into the world, many people have now found a modern home. This looked very different just a few years ago. From 2005 onwards, the hospital complex stood empty; since then, the once-magnificent buildings from 1914 have visibly fallen into disrepair.

Vom Lost Place zum lebendigen Quartier From “lost place” to lively quarter
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Latest standards behind traditional façades
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Several megatrends simultaneously addressed
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Environmental balance – often better than new buildings
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Old buildings – a bag full of surprises

In an ESG-oriented investment profile, there are therefore good arguments for transformational real estate. However, there are some special risks, too. Old buildings that have often been vacant for years or even decades might reveal certain surprises – with significant financial impact – when they are converted. Before the start of a project, all the alternatives should therefore be weighed up very thoroughly: tear down and reconstruct or convert and redesign? In addition, all relevant stakeholders should be involved at an early stage in order to ensure the social acceptance of the project. But courage and effort can pay off: successfully transformed buildings are innovative flagship projects – they stand out in their urban environment as well as in the real estate portfolio.

Transformation projects

New construction
student apartments

Wohnpark St Marien
residential property

Operation Hospital Conversion successful
From eyesore to shining light of the neighbourhood: the former maternity and women’s hospital in Berlin-Neukölln is experiencing a renaissance as an attractive place to live. Here, old and new buildings of different types blend into a harmonious setting.

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headquarters of Commerzbank

Safe successfully opened
With its austere 1950s architecture, the buildings on the former Commerzbank site on Potsdamer Strasse in Berlin-Schöneberg seemed locked, almost like a safe. After the extensive makeover with structural adjustments and the construction of a new building with a modern design bearing the sonorous name “Wirtschaftswunder” (“economic miracle”), the building complex now appears more open and luminous.

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Ensemble of

Die Macherei

A modern interpretation of architectural history
On a large construction site in Berlin-Kreuzberg, we can witness the revival of an architectural classic: the former Postscheckamt Berlin West is being transformed into the quarter “Die Macherei Berlin-Kreuzberg” with the visionary tower “M50 – The Design Tower” Exceptional concepts also characterise the two neighbouring buildings.

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Typical for pbb

Property highlights in major European cities: pbb supports investors in Europe and the US with financing for challenging projects. Below you will find a selection of noteworthy transactions for our clients.

Denisstraße Lichthöfe, München

Denisstraße Lichthöfe,

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The Dock In, Prag

The Dock In,

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Ballet, Paris


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ABC-Bogen, Hamburg


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Leadership and Responsibility

Andreas Arndt
We want to bring new products to the market, expand our US activities and extend more green loans.

Andreas Arndt
Chairman of the Management Board and
Chief Financial Officer

With investment markets recovering, we have significantly increased new business volume in 2021 – thereby continuing our strategy to focus on core properties and acknowledging some uncertainty regarding future demand for rental space.

Thomas Köntgen
Deputy CEO, Real Estate Finance and
Public Investment Finance

Thomas Köntgen
Andreas Schenk
We focus on properties in good locations with stable cash flows and low re-letting risks. We also pay attention to professional investors with crisis management experience.

Andreas Schenk
Member of the Management Board,
Chief Risk Officer

Supporting the change in the real estate sector towards more sustainability is a commitment to society and, at the same time, offers us business opportunities.

Marcus Schulte
Member of the Management Board,

Marcus Schulte

5 Top
news 2021

Awards, cooperation, ESG, green lending: What were the topics and events that drove pbb? A brief foray through the year 2021.

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About pbb

Business model pbb

We structure medium- to large-sized financings for professional real estate investors, with a focus on office, retail, residential and logistics properties. Our clients benefit from the mix of local and international expertise that we offer.

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pbb as an employer


employees end of 2021

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Sustainability at pbb

100% green energy Carbon-neutral power supply at all German pbb locations

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Financial year in figures

17 CET1 ratio

40 Cost-income ratio

242 Pre-tax profit in € mn

Our figures in brief

To the Corporate Report

Our figures in full

To the Annual Report



The company report and the financial report can be downloaded here as pdf


Order service

A printed copy of the report can be ordered here.

Order service


All publications from previous years can be found here.

To the publications


If you have any questions, please do not hesitate us.