Poland-focused logistics platform European Logistics Investment (ELI) has signed a €155 mln loan agreement with a consortium comprising pbb and Helaba.
The funds will be used to refinance eleven properties of ELI’s logistics portfolio in nine locations: Bydgoszcz, Czeladz, Kraków (Nowa Huta and Skawina), Lódz, Opole, Torun, Tychy and Warszawa (Blonie), comprising a total GLA of over 335,000 m2.
Pbb and Helaba acted as joint lead arrangers providing equal portions of the funding. while pbb also acted as facility and security agent of the transaction.
Artur Gniazdowski, senior vice president finance at Griffin Capital Partners, an ELI shareholder, said: 'ELI’s logistics projects provide outstanding road connectivity and exceptional value for businesses.
'These factors, combined with an increasing number of BREEAM-certified assets in our portfolio, contribute to their widespread popularity among tenants across the entire country. Having the support of prestigious banking institutions like pbb and Helaba have further affirmed the exceptional quality of our assets through the granting of a loan facility.'
Pieter Prinsloo, ELI CEO, added: 'ELI has been experiencing remarkable growth, through the expansion of its portfolio with attractive properties strategically located in key logistics hubs across Poland.
'Securing long-term financing from Helaba and pbb will not only sustain our momentum, but also empower the company to achieve its ambitious expansion objectives.'
Said Dieter Knittel, head of CEE at pbb: 'At pbb, we believe in supporting industry-leading companies like ELI. This partnership demonstrates our commitment to supporting growth and sustainability in the logistics sector.'
Law firms Linklaters and Dentons advised on the transaction process.
