European Logistics Investment has signed a loan agreement worth €111 million with Berlin Hyp. The funds will be used for the refinancing of four projects from ELI’s logistics portfolio.
The funds were used to refinance ELI’s logistics projects in four locations: Bielsko-Biała, Ruda Śląska, Warszawa and Toruń, comprising seven buildings with a total GLA of 216,000 sqm.
"ELI’s logistics projects offer excellent connectivity and value for businesses, and these are the reasons behind their popularity among tenants in the whole country. We are excited that a renowned banking institution such as Berlin Hyp has additionally validated the excellent quality of our assets by granting a loan facility", says Artur Gniazdowski, Senior Vice President Finance at Griffin Real Estate.
"ELI has been experiencing rapid growth, quickly expanding its portfolio by adding attractive properties in key logistics locations in Poland. Securing long-term financing will allow us to maintain the momentum and enable the company to achieve expansion goals" adds Łukasz Toczek, Senior Vice President Investments at Griffin Real Estate responsible for ELI platform development.
"The logistics real estate sector in Poland has been growing steadily and thus ELI is developing as an important player in the Polish logistics market. We have recognized ELI's potential to leverage market opportunities, and that is precisely why we have decided to provide financing for its further development", says Justyna Kędzierska-Klukowska, Head of Berlin Hyp Warsaw Office.
The law firms Linklaters and CMS advised on the transaction process.
