pbb provides €120 million loan to logistics fund managed by GCP

pbb Deutsche Pfandbriefbank has provided a €120 million investment loan facility to a Logistics Fund, managed by GLP Capital Partners (GCP). The fund will utilise the proceeds for the refinancing of the development of a logistics portfolio in the Czech Republic, Poland and Hungary. pbb acted as arranger and sole lender under the facility.

The portfolio consists of eight assets along key logistic destinations in the Czech Republic, Poland and Hungary. All properties are newly built Class A warehouse assets in very good and established industrial locations with direct access to expressways and motorways. The portfolio comprises a total of over 235,000 sqm gross lettable area and has a well-diversified tenant mix.