Pbb Deutsche Pfandbriefbank has provided two credit facilities of approximately €100 mln in total to property investor Realterm, which focuses on logistic and infrastructure assets in North America, Europe and Asia.
The facilities comprise a seven-year €66 mln French credit facility secured by a homogeneous property portfolio totaling around 72,000 m2 of lettable area across 15 cross-dock truck terminal properties, located along key French Pan-Euro freight corridors and highly populated areas.
The second facility is a four-year £31 mln (€35 mln) UK credit facility, secured by two logistics properties totaling around 48,200 m2 of lettable area located in strategic UK logistics locations.
The facility includes funding for refurbishment of both properties with one now completed and the other to follow later in 2023.
Norbert Müller, head of real estate finance Continental Europe West, and Charles Balch, head of international clients, UK, CEE & USA of pbb Deutsche Pfandbriefbank, commented: 'These transactions, in two of our core markets, reflect pbb’s ability to deliver support to our clients in a variety of geographical markets.
'We are delighted to have supported Realterm in entering new markets as well as reaffirming our commitment to providing finance for high quality assets and sponsors within the logistics market.'
Taner Çöllü, associate vice president, debt capital markets of Realterm Europe commented: 'We are delighted to start building our relationship with pbb and grateful for their partnership and support to us in France and United Kingdom, two of our key target markets.
'We will continue to our expansion of our Realterm platform in Europe by investing in transportation-advantaged logistics properties and leveraging our 30+ year global expertise in this area.'