pbb Deutsche Pfandbriefbank has provided a €117 million investment loan facility to a logistics fund managed by GLP Capital Partners (GCP). The fund will utilise the proceeds for the refinancing of the development of a logistics portfolio in Poland and the Czech Republic. pbb acted as arranger and sole lender under the facility.
The portfolio consists of eight assets along key logistic destinations in Poland and the Czech Republic. All properties are newly built Class A warehouse assets in very good and established industrial locations with direct access to expressways and motorways. The portfolio comprises a total of over 245,000 sqm gross lettable area and has a well-diversified tenant mix.
Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "We are very pleased to support GCP with this bilateral transaction in CEE. Poland and the Czech Republic are important markets for pbb and we are looking forward to continue working with GCP in the logistics sector in CEE and other European markets.”
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