News Article Czech Republic fund Germany logistics office pbb Poland real estate REICO Warsaw
by Property Forum | Investment

pbb Deutsche Pfandbriefbank has provided a €118 million credit facility to REICO ČS NEMOVITOSTNÍ, the biggest open-ended real estate fund on the Czech market, managed by REICO, an investment company of Česká spořitelna. The facility will be used to fund the acquisition of two newly built logistic properties in Upper Silesia as well as for the refinancing of an office building in Warsaw.

The office building is known as Proximo I and belongs to the two A-class office blocks in the Proximo complex, which is located in the dynamically developing Wola district, close to the Warsaw Central Business District. It offers a gross lettable area of over 29,000 sqm and is currently nearly fully let to a mix of international and national tenants.

The logistics portfolio consists of two assets located near the town of Tychy in Upper Silesia, in a major industrial area anchored by one of the largest FIAT factories globally. The properties are newly-built Class A warehouse assets; let to five reputable tenants and providing a total of 116,000 sqm gross lettable area.

Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "We have a long-standing relationship with REICO and are very pleased to support them in their recent logistics acquisition in Poland. Poland is an important market for pbb and we are looking forward to other transactions with REICO across all CEE real estate markets.”