German logistics property investor LIP Invest has secured a €70 mln 10-year loan facility from lender pbb Deutsche Pfandbriefbank to finance the purchase of four logistics properties in Germany.
The financed portfolio consists of four fully let new logistics buildings, including Dannstadt and Singen, which LIP has acquired as forward fundings from a major project developer active throughout Europe. The distribution centres offer a total lettable area of 110,000 m2.
‘We are very pleased to be able to finance four properties for our logistics real estate fund with pbb Deutsche Pfandbriefbank. Logistics properties in good locations with high property quality and third-party usability continue to offer an attractive financing opportunity. By the end of the year, we would like to conclude further loan agreements for a financing volume of around €100 mln, despite the changed conditions on the capital market.,’ said Sebastian Betz, managing director of LIP Invest.
