German lender Pbb Deutsche Pfandbriefbank has provided an investment loan of €90 mln to Frasers Property Investments Europe (FPE), a subsidiary of real estate group Frasers Centerpoint, for the acquisition of four logistics assets in Germany.
The properties were developed by ECE Projektmanagement and are rented to logistics operator Hermes Germany. They are located in the logistics markets of Heilbronn, Mainz, Berlin and Augsburg.
Gerhard Meitinger, head of Real Estate Finance Germany at pbb, said: 'The newly constructed logistics centres offer a highly attractive portfolio, capitalising on the strongly growing e-commerce market and the subsequent increased demand for modern logistics areas. We are delighted to have the opportunity to further extend the efficient cooperation with FPE as a very professional partner through this transaction.'
