German lender pbb Deutsche Pfandbriefbank has provided an £80 mln (€91.3 mln) senior facility to finance the real estate acquisition by Kohlberg Kravis Roberts & Co. of three UK retail warehousing assets.
German lender pbb Deutsche Pfandbriefbank has provided an £80 mln (€91.3 mln) senior facility to finance the real estate acquisition by Kohlberg Kravis Roberts & Co. of three UK retail warehousing assets.
The facility comprises an acquisition tranche and also includes additional funds to be made available during the term of the facility. The transaction closed on 12 July 2013.
pbb acted as mandated lead arranger, facility agent and security agent and trustee.
'We are proud to support KKR’s expansion into Europe with financing for their first direct real estate acquisition,' commented Charles Balch, head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank.
Guillaume Cassou, a director of KKR London and head of the KKR Europe Real Estate team, said: 'We are excited to be announcing KKR’s first European property acquisition, and are delighted that it is in a strong portfolio which combines excellent locations and attractive opportunities for asset management.'
