Pbb Deutsche Pfandbriefbank has provided two credit facilities totalling around €100m (£88m) to logistics and infrastructure investor Realterm, including a £31m facility secured by two UK properties.
The UK credit facility, which has a four-year term, is secured by two logistics properties measuring a combined 519,000 sq ft of lettable area. It includes funding for refurbishment of both properties, with one now completed and the other to follow later in 2023.
Elsewhere, a seven-year €66m French credit facility has been secured against a portfolio totalling around 775,000 sq ft of lettable area across 15 cross-dock truck terminal properties. Those are located along key French Pan-Euro freight corridors and highly populated areas.
Norbert Müller, head of real estate finance continental Europe West, and Charles Balch, head of international clients, UK, CEE & USA of pbb Deutsche Pfandbriefbank, said in a joint statement that the facilities “supported Realterm in entering new markets” and reaffirmed a “commitment to providing finance for high quality assets and sponsors within the logistics market”.
Taner Çöllü, associate vice president, debt capital markets of Realterm Europem said: “We will continue to our expansion of our Realterm platform in Europe by investing in transportation-advantaged logistics properties and leveraging our 30-year-plus global expertise in this area.”
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