German securities services provider DekaBank has arranged a €117.3 mln loan facility on behalf of KWASA Goodman Germany, a co-investment between Goodman and Malaysia's Employee Provident Fund (Malaysia), to finance three logistics facilities in Germany.
pbb Deutsche Pfandbriefbank jointly underwrote the loan facility with DekaBank acting as arranger. The loan was structured as a forward facility with three different drawdowns upon the completion of each asset.
'This financing shows the capabilities of DekaBank to arrange and underwrite large loans for experienced sponsors acquiring core assets. We are delighted to further our ongoing relationship with Goodman in Germany and we are consequently seeing a few more of these types of deals in the market,' said Amar Latif, head of origination for DekaBank’s German business.
The first property consists of a modern logistics asset located in Ergolding (Bavaria) and fully let to BMW until 2032. Two further assets are located in Marl and let to the Metro Group on long leases.
The Metro properties, with a combined area of approximately 235,000 m2, make them one of the largest logistics assets in Europe.