€155m PBB and Helaba loan refinances 11 ELI logistics assets

Polish logistics platform European Logistics Investment has obtained a €155 million loan from German banks PBB and Helaba to refinance eleven logistics properties.

The assets are in nine locations: Bydgoszcz, Czeladź, Kraków (Nowa Huta and Skawina), Łódź, Opole, Toruń, Tychy and Warszawa (Błonie and have a total GLA of over 335,000 sq m.

PBB and Helaba, who acted as joint lead arrangers, are providing equal amounts of the funding. PBB was also facility and security agent for the transaction.

ELI is jointly owned by Redefine Properties, Madison International Realty, and Griffin Capital Partners.

“ELI has been experiencing remarkable growth, through the expansion of its portfolio with attractive properties strategically located in key logistics hubs across Poland,” said Pieter Prinsloo, chief executive officer at European Logistics Investment.

He said that the long-term facility from the two banks will sustain the platform’s momentum and empower it to achieve ambitious expansion objectives.