ELI secures €155 million loan from pbb and Helaba for Polish logistics portfolio

European Logistics Investment (ELI), a logistics platform in the Polish market owned by Redefine Properties, Madison International Realty, and Griffin Capital Partners, has signed a €155 million loan agreement with a consortium of pbb and Helaba. The funds will be used to refinance eleven properties of ELI’s logistics portfolio in nine locations: Bydgoszcz, Czeladź, Kraków (Nowa Huta and Skawina), Łódź, Opole, Toruń, Tychy and Warszawa (Błonie), comprising a total GLA of over 335,000 sqm.

“ELI’s logistics projects provide outstanding road connectivity and exceptional value for businesses,” said Artur Gniazdowski, Senior Vice President of Finance at Griffin Capital Partners. “These factors, combined with an increasing number of BREEAM-certified assets in our portfolio, contribute to their widespread popularity among tenants across the country. Having the support of prestigious banking institutions like pbb and Helaba has further affirmed the exceptional quality of our assets through the granting of a loan facility.”

“ELI has been experiencing remarkable growth, through the expansion of its portfolio with attractive properties strategically located in key logistics hubs across Poland,” added Pieter Prinsloo, Chief Executive Officer at European Logistics Investment. “Securing long-term financing from Helaba and pbb will not only sustain our momentum but also empower the company to achieve its ambitious expansion objectives.”

pbb and Helaba acted as Joint Lead Arrangers providing equal portions of the funding. pbb also acted as facility and security agent of the transaction.

“At pbb, we believe in supporting industry-leading companies like ELI. This partnership demonstrates our commitment to supporting growth and sustainability in the logistics sector,” said Dieter Knittel, Head of CEE at pbb.

“We are very impressed with the speed at which ELI is developing, taking advantage of the excellent situation in the Polish logistics market. We have carefully assessed ELI’s capability to capitalize on market opportunities and manage a growing investment platform, which is precisely why we have committed to support its further development,” said Georg Blaschke, Head of Real Estate Finance CEE and Benelux at Helaba.

The law firms Linklaters and Dentons advised on the transaction process.