Pbb provides €100m loan for CBRE GI's logistics assets

German lender Pbb Deutsche Pfandbriefbank has provided a €100 mln senior secured loan facility to CBRE Global Investors to refinance an existing debt facility on three logistics properties in the CBRE Logistics Venture Fund.

Pbb acted as mandated lead arranger, facility and security agent.

The 363,510 m2 well-connected pure logistics portfolio includes three properties all located in the Paris region (Bruyères,Lagny and Villabé). The tenant base includes highly regarded names such as Auchan and XPO.

Charles Balch, head of Real Estate Finance International Clients, UK, CEE & USA said: 'We are pleased to be able to support CBRE Global investors, one of our core clients, with this refinancing of a prime logistics portfolio in Ile-de-France. Logistics is obviously one of the asset classes that are best positioned to perform well in the current difficult situation, and we will continue to look for opportunities in this sector.'

Laurie Lagarde, Logistics Fund manager Europe, CBRE Global Investors said: 'The refinancing of these assets demonstrates our strong activity in the logistics sector. On behalf our clients, we have financed or refinanced approximately €308 mln of debt out of a total of €715 mln in assets acquired this year.'


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