German lender DekaBank has arranged and fully underwritten a €94 mln senior debt facility to finance Rasmala Investment Bank's €154 mln worth of German logistics acquisitions.
Rasmala, the Dubai-regulated primary asset management subsidiary of Rasmala Plc, a London AIM-listed investment group, announced last week that it had bought the assets in Dortmund.
All assets are newly built and located in the logistics park of Westfalenhütte in Dortmund. The assets are let at market rents on long leases to two tenants.
Amar Latif, head of Origination for DekaBank’s German platform, said: 'We are pleased to have supported Rasmala’s successful entry into the German market and were able to fund this in a relatively short period of time. Additionally this transaction reflects the type of lending that DekaBank wishes to mainly focus on in Germany, that being to primarily let core assets to experienced sponsors. We are very much focused on growing our loan book with similar financings in 2018.'
