Deutsche Pfandbriefbank has renewed a EUR 27.5 mln investment facility to Apollo Rida for its Zeran Park II warehouse and distribution park in Warsaw, and has also provided an investment top-up facility of EUR 6 mln. The deal was signed on 27 July.
Deutsche Pfandbriefbank has renewed a EUR 27.5 mln investment facility to Apollo Rida for its Zeran Park II warehouse and distribution park in Warsaw, and has also provided an investment top-up facility of EUR 6 mln. The deal was signed on 27 July.
Zeran Park II is the largest office, warehousing and light industrial hub of its kind in Warsaw, and has attracted prime international and domestic tenants. Zeran Park II comprises seven buildings with a total area of 49,000 m2 designed to the latest standards in warehousing and logistics technology.
Harin Thaker of Deutsche Pfandbriefbank commented: 'We are pleased to continue our strong lending relationship with Apollo Rida in Poland, an important international market for Deutsche Pfandbriefbank. Apollo Rida has been a key client for many years, and the underlying asset has continuously demonstrated strong and stable cash flow.'
Apollo Rida is a real estate organisation involved in the development of, management, and investment in high quality commercial real estate in Poland. The company has been active in Poland since 1994 and has developed, or is currently developing, in excess of 650,000 m2 of real estate projects, including office, multi-use buildings, warehouse, and light industrial projects. It is a joint venture of Rida Development Corporation, a US-based real estate development company, and AREA Property Partners, a leading international real estate fund manager.
