German property lender pbb Deutsche Pfandbriefbank has provided a EUR 13 mln facility to Investec GLL Global Special Opportunities Real Estate Fund for the acquisition of two logistics warehouses located at Ontigola in the Toledo region of Spain.
German property lender pbb Deutsche Pfandbriefbank has provided a EUR 13 mln facility to Investec GLL Global Special Opportunities Real Estate Fund for the acquisition of two logistics warehouses located at Ontigola in the Toledo region of Spain.
The recently developed logistic warehouses have a total gross lettable area of 55,000 m2. They are fully let and located in a modern consolidated logistics park around 55 km to the south of Madrid.
The loan facility was closed in March 2012 with pbb acted as arranger, agent and sole lender on the facility.
GLL Global Special Opportunities Real Estate Fund is jointly managed by GLL Real Estate Partners and Investec Bank
Bernhard Scholz, board member at pbb, said: 'Overall, the Spanish commercial real estate market offers interesting opportunities when a selective approach is used and we will continue to finance quality assets on such a basis.'
