Pbb Deutsche Pfandbriefbank has provided an investment loan facility totalling €115 mln to a fund managed by the real estate group of Ares Management Corporation, which will use the proceeds to finance the acquisition of a logistics portfolio in Poland.
Pbb acted as arranger and sole lender under the facility.
The portfolio consists of four assets along key logistics destinations across northern, central and southern Poland. All properties are newly built Class A warehouse assets located in Gdansk, Katowice Sosnowiec, Poznan and Wroclaw.
The portfolio comprises a total of 285,500 m2 gross lettable area let to over 30 reputable tenants such as Rhenus, LPP and Gefco.
Charles Balch, head of international clients, UK, CEE & USA at Pbb Deutsche Pfandbriefbank said: 'We are very pleased to support Ares in their logistics acquisitions across Europe.
'Both – Poland and Spain – are important markets for pbb, and we are looking forward to continue working with Ares in the logistics sector in Poland, Spain and beyond.'
This is the second transaction between Ares and Pbb within a short timeframe. In Q4/2020, Pbb provided a €30 mln medium term financing for the acquisition of a logistics portfolio comprising 83,200 m2 gross lettable area with assets located along the main logistics routes in Spain such as the A2, AP-7 and A3 motorways.
