pbb provides GCP with €120m loan against logistics portfolio

German lender pbb Deutsche Pfandbriefbank has provided a €120 mln investment loan facility to a logistics fund, managed by GLP Capital Partners (GCP). 

The fund will utilise the proceeds for the refinancing of the development of a logistics portfolio in the Czech Republic, Poland and Hungary. Munich-headquartered pbb acted as arranger and sole lender under the facility.

The portfolio consists of eight assets along key logistic destinations in the Czech Republic, Poland and Hungary.

All properties are newly built Class A warehouse assets in established industrial locations with direct access to expressways and motorways.

The portfolio comprises a total of over 235,000 m2 gross lettable area and has a well diversified tenant mix, according to pbb.

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