German lender Pbb Deutsche Pfandbriefbank has provided a SEK 300 mln (€30 mln) senior loan to Barings to support the acquisition of a fully-let, prime logistics asset and the development of further logistics space located in Örebro, Sweden.
The acquisition comprises an existing logistics asset with 18,400 m2 of lettable space which is fully occupied by Onninen as well as the opportunity to extend the existing building.
Onninen is a market leader in B2B sales within the heating, plumbing, air conditioning and electrical products market.
In addition, a new 30,000 m2 logistics building is to be constructed on the site.
‘Having secured this high quality asset and development opportunity in Örebro, we are very pleased to have obtained an attractive financing arrangement during a challenging period,’ said Daniel Köhler, director and head of Real Estate Treasury, Europe at Barings. ‘We value the fact that pbb is supporting Barings across our European jurisdictions as a lender on a number of real estate transactions for many years now.’
Thorsten Slytå, managing director and head of Real Estate Nordics at Barings added: ‘With this asset we have now acquired 6 logistics assets in the last twelve months in Sweden and we are still looking to acquire further logistics across the Nordics in 2021.’
