Lenders DekaBank and Wells Fargo Bank, National Association (WFBNA) have provided a £158.6 mln (€183 mln) three-year term loan secured against a portfolio of eight UK logistic assets known as the Ultrabox portfolio.
DekaBank was joint lender on this transaction together with WFBNA who held the role of arranger, agent and lender.
The loan is being made available to joint owners, the Alberta Investment Management Corporation (AIMCo) and Oxenwood Real Estate (Oxenwood) and has been used to refinance existing indebtedness in tandem with providing additional acquisition finance.
The original portfolio was purchased by the joint partners in April 2017 from Lone Star.
In the following years the landlords have actively managed the assets resulting in the lease-up and re-gear of both vacant and occupied units respectively combined with the profitable disposal of non-core assets.
