LIP Invest, leading provider of special real estate funds in the asset class of logistics real estate in Germany, is financing the purchase of four logistics properties with pbb Deutsche Pfandbriefbank. The agreed financing volume amounts to approx. 70 million euros with a term of 10 years.
"We are very pleased to be able to finance four properties for our logistics real estate fund with pbb Deutsche Pfandbriefbank. Logistics properties in good locations with high property quality and third-party usability continue to offer an attractive financing opportunity. By the end of the year, we would like to conclude further loan agreements for a financing volume of around 100 million euros, despite the changed conditions on the capital market.," says Sebastian Betz, Managing Director of LIP Invest.
The financed portfolio consists of four fully let new logistics buildings, including Dannstadt and Singen, which LIP has acquired as forward fundings from a leading project developer active throughout Europe. The distribution centres with a total lettable area of 110,000 square metres are united by their sustainability approach: the leases for the logistics properties are agreed as green leases. All roof areas are equipped with either photovoltaic systems, a green roof or a combination of the two.
"The LIP team also handles more complex portfolio financings such as these forward fundings inhouse. We are very pleased that we have been able to demonstrate this repeatedly with our partners from pbb Deutsche Pfandbriefbank," says Daniel Pahl, authorised signatory and general counsel at LIP Invest, who lead the financing negotiations for LIP.
A portfolio with a loan volume of around 54 million euros was already jointly financed last year. Both, pbb Deutsche Pfandbriefbank and LIP, negotiated and concluded the loan agreements with their inhouse teams.