Ares acquires a Polish warehouse
Pbb has granted a loan of 115 million euros for a logistics portfolio in Poland acquired by Ares Management.
Pbb Deutsche Pfandbriefbank has granted an investment credit facility for a total amount of 115 million euros to a fund managed by the real estate group of Ares Management Corporation to finance the acquisition of a logistics portfolio in Poland . Pbb acted as arranger and sole lender under the facility.
The portfolio consists of four assets in key logistics destinations in northern, central and southern Poland – in Gdańsk, Sosnowiec, Poznań and Wrocław. It includes a total of 285,500 m² of gross rental space occupied by more than 30 tenants, such as Rhenus, LPP and Gefco.
This is the second transaction between Ares and Pbb in a short period of time. In the fourth quarter of 2020, Pbb granted a medium-term loan of 30 million euros for the acquisition of a logistics portfolio of 83,200 m2 in Spain.
We are very happy to support Ares in its logistics acquisitions across Europe. Poland and Spain are important markets for Pbb, and we look forward to continuing to work with Ares in the logistics industry in Poland, Spain and beyond.
Charles Balch, Head of International Clients for UK, EEC and USA at Pbb Deutsche Pfandbriefbank