pbb and UniCredit Bank Austria provide €215 million pan-CEE facility to P3
pbb Deutsche Pfandbriefbank and UniCredit Bank Austria AG have jointly underwritten a €215 million senior facility to refinance Point Park Properties’ (P3’s) existing logistics portfolio in the Czech Republic, Slovakia and Poland. The transaction closed in June 2014.
pbb is acting as facility and security agent of this transaction, with the underwriting of the facility being jointly provided by pbb and UniCredit Bank Austria AG as mandated lead arrangers. Unicredit Bank Czech Republic and Slovakia, a.s. is acting as hedge provider.
The portfolio consists of five Class A modern logistics parks, located in two prime logistic locations in Prague, one outside of Bratislava, and two logistic hubs in Mszczonow near Warsaw and Poznan. The total warehouse space exceeds 550,000 sqm and is almost fully leased to more than 50 international tenants.
The portfolio also comprises a substantial land bank in these locations for further development of additional warehouse and distribution space.