DekaBank lends €119m for Samsung warehouse deal in Germany

South Korean investor Samsung Securities & KB Securities has secured a €119.3 mln loan from DekaBank to acquire a logistics property in the German city of Mönchengladbach.

The newly built asset comprises 150,000 m2 across three floors and is fully let to Amazon, the online shopping giant. It includes office space and canteen facilities, with 1,000 parking spaces and 180 trailer spaces.

Samsung Securities & KB Securities was advised on the transaction by La Française Group.

Amar Latif, who heads DekaBank’s German origination platform, said: ‘With the successful cooperation with La Française, DekaBank was once again able to illustrate its expertise to underwrite large tickets if secured against core real estate in Germany.’

Jens Goettler, managing director for Germany at La Française, said: ‘For La Française, this is a landmark transaction on behalf of South Korean investors, keen on diversifying their portfolios into e-commerce-led investment themes.

‘As e-commerce penetration deepens, the German logistics real estate market continues to show positive signs both in terms of valuations and rental values and we will continue to seek quality assets for our clients.’

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