Christian Voss
Portfolio Management & Structured Credit

Phone: +49 (0)40/33 34-36 67
E-Mail: christian.voss(at)dghyp.de



Illustration of PROVIDE-transaction structures



Further information on our securitised transactions can be found here:




Joining forces with DZ BANK, KfW, and six German cooperative banks, DG HYP launched during 2005. It was the first securitisation to package and place small-sized commercial real estate loans on the capital market.

This was also the first time that risk exposures from the portfolios of various cooperative banks – and of DG HYP – were aggregated and offered to domestic and international investors.

This collateralised mortgage-backed securities (CMBS) transaction was implemented using the tried-and-tested multi-seller structure previously used for RMBS securitisations of retail mortgages.

PROSCORE-VR 2005-1 EUR mn % number of loans
Total 734,80 100,00 3.072
DG HYP 689,56 93,84
Volksbank Weinheim eG 10,21 1,39 16
Volksbank Wetzlar-Weilburg eG 9,98 1,36 35
Bremische Volksbank eG 8,27 1,13 15
Vereinigte Volksbank AG 6,96 0,95 14
Vereinigte Volksbank Griesheim-
Weiterstadt eG
6,06 0,83 18
Raiffeisenbank Oberschleißheim eG 3,76 0,51 7


Notice of the Replacement of the Transaction Account Bank
In the first Quarter 2010, following the downgrade below the required rating, the Bank of Ireland acting as Transaction Account Bank was replaced by DZ BANK AG, Deutsche Zentral-Genossenschaftsbank.