Atmira secures €312m of new loans to fund Erfurt logistics project

Atmira has secured €312 mln worth of debt facilities to fund the construction of the Erfurt A logistics center in Germany.

Under the deal, lenders pbb Deutsche Pfandbriefbank, together with BayernLB and Stadtsparkasse München are providing a loan of around €254 mln while Lenwood Capital has arranged the mezzanine capital of €58 mln.

As mandated lead arranger, pbb took on the structuring of the financing and acted as facility and security agent during the term.

The Atmira Group is thus financing the construction of a four-storey logistics center with a rental area of around 265,000 m² in the International Logistics Center (ILZ) in Erfurt.

The asset, which will be certified according to the DGNB Gold Standard, will be one of the largest and most modern robotic logistics properties in Europe, will in future be able to handle up to 550,000 parcels per day for a global online retailer who has rented the building for a very long time.

Gerhard Meitinger, head of pbb's real estate financing business for Germany, said: ‘We are financing a very unusual and extremely forward-looking logistics property here, which is also sophisticated in terms of technical equipment during construction. With this financing, pbb, together with its partner banks, has once again demonstrated its high level of expertise in structuring complex transactions.’


Events

Latest news

Best read stories