Italian lender UniCredit has provided a €70 mln loan to finance the acquisition by WP Carey's CPA:17-Global fund of a portfolio of logistics assets in Central and Eastern Europe.
Italian lender UniCredit has provided a €70 mln loan to finance the acquisition by WP Carey's CPA:17-Global fund of a portfolio of logistics assets in Central and Eastern Europe.
The seven-year long-term facility will be used to partially refinance the purchase price paid for the acquisition of four logistics parks, bought in a sale-and-leaseback structure.
The package, with total gross lettable area of over 208,800 m2 includes two parks located in Poland, one in Slovakia and one in Czech Republic. The buildings are fully leased with 10-year lease agreements.
The transaction was closed at end-December 2015.
'UniCredit Group is an active player in real estate finance in the CEE region with a strong commitment and a long-term strategy for each market. The transaction has increased our logistics financing portfolio in Central Europe,' commented Lukasz Motyl, managing director, and Eva Böhler, director of Real Estate Finance CEE in UniCredit Bank Austria.
