Deutsche Pfandbriefbank AG (pbb), together with Berlin Hyp AG and Helaba, has provided €380 million to Garbe Industrial Real Estate for the refinancing of a logistics portfolio it manages.
Pbb arranged the financing and also acts as syndicate leader.
The refinanced logistics portfolio consists of 29 properties in established logistics locations both in Germany and the Netherlands, and has a combined gross lettable area of around 631,000 square metres.
The warehouse units are let to blue-chip logistics firms on long-term leases.
“The structuring of this very complex cross-border financing together with two strong partners shows that it is possible to provide our clients with individual financing solutions even in a special market environment. We are pleased to accompany our long-standing client in their further development together with our two bank partners,” said Gerhard Meitinger, Head of Real Estate Germany at pbb.