July 24, 2014

Dentons acts for lenders in €215 million refinancing of P3 logistics portfolio in CEE

Dentons banking and real estate teams jointly advised pbb Deutsche Pfandbriefbank and UniCredit Bank Austria AG on their €215 million senior facility to refinance the portfolio of five modern logistics parks located in the Czech Republic, Poland and Slovakia.

The Class A portfolio is owned by Point Park Properties (P3) and spreads across Central and Eastern Europe. Two assets are situated in top logistics locations in Prague, one outside Bratislava, and the other two in Mszczonow, near Warsaw, and in Poznan, Poland’s logistics hubs. The total warehouse space comprises of more than 550,000 sqm and a substantial land bank in these locations, which will be used for the development of additional warehouse and distribution space. The portfolio is almost fully leased to over 50 international tenants.

Mateusz Toczyski, Co-head of Dentons’ banking team for Europe, said: “We were pleased to have assisted pbb Deutsche Pfandbriefbank and UniCredit Bank Austria AG jointly on the successful completion of this challenging transaction which involved multiple parties in three jurisdictions. Seeing such a positive end result, we are keen to strengthen further the potential of our cross-practice and cross-country cooperation at Dentons.”

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