DekaBank has arranged and underwritten a €131.6 mln portfolio financing for Gramercy Property Europe in Germany.
The portfolio consists of eight logistics properties extending to a total of 391,000 ,2 located in various established locations across Germany, including Koblenz and Bremen. All the assets are 100% let to established tenants.
'Gramercy is an established global operator in the logistics sector and this is the bank’s first financing in Germany for them. The logistics sector in Germany is currently performing well and we are happy with the quality of the assets, the stable cashflows and conservative Day 1 LTV,' commented Amar Latif, in charge of German real estate lending activities at DekaBank.
DekaBank said it was also providing finance for a logistics asset located in France for Gramercy.
