News Article Aareal Bank Accolade industrial loan logistics Poland refinancing
by Property Forum | Industrial

Accolade and Aareal Bank of Germany have agreed on the refinancing of six parks in Szczecin, Bydgoszcz, Lublin, Legnica, Białystok, and Zielona Góra in Poland.  This refinancing, in an aggregate value of €153 million, is one of the largest financial transactions in the industrial real estate segment in Central Europe.

For Accolade, the refinancing agreement means reduced costs of bank financing and less administrative burden, and assurance of portfolio stability for years to come.

“Large, modern industrial parks constitute infrastructure for business.  They are the present and future of shopping because major online vendors are based on them.  They are the place where most modern products are made.  And they are also the place that provides for a supply chain for all of us and the European economy.  From food to clothing to machines and their parts.  Quality premises for modern enterprise are the path to a sustainable future of European industry,” said Co-Founder of Accolade Fund SICAV Milan Kratina, in commenting on the present state of the European business.

“We consider the refinancing of the portfolio of several industrial parks with one loan from one bank to be another natural step in the development of our business in Poland. It is a complex and time-consuming process, but it brings significant benefits. The management of financing and related reporting will be simplified in a fundamental way. Financial indicators will be assessed on the basis of the entire portfolio instead of separate properties, and the structure of our financing thus becomes even more resilient to the external environment. Thanks to this transaction, we also reduced the costs associated with financing and extended its maturity. We are very pleased to have found a partner at Aareal Bank who has supported us throughout this process. At the same time, we continue to cooperate with the original financing banks on our other projects in Poland,” said Zdeněk Šoustal, Member of the Board of Co-Founder of Accolade Fund SICAV.

“We are pleased by the confidence Accolade has placed in us.  This agreement underscores our expertise in the financing of comprehensive logistical portfolios and is a testament to our ability to implement industrial trends in cooperation with our clients,” added Hubert Manturzyk, General Manager of Aareal Bank Poland.

Accolade owns modern parks in all parts of Poland, including strategic locales such as the currently refinanced Bydgoszcz, Legnica, Szczecin, Lublin, Zelená Hora, and Białystok.  One-third of the group’s portfolio is from the dynamically growing segment of online purchases, another third is logistics and warehousing, and the last third is made up of light production, machinery, automotive, and other processing industry brands.  The portfolio of Accolade’s tenants keeps growing and includes companies such as DHL, Oponeo, Pierce, Data Modul, Expondo, Raben, REAC, Swiss-Krono, FedEx, Laboratoria Natury, Rohlig Suus, Schenker, Oponeo, and DPD.