pbb provides €75mn for the acquisition of a logistics park focussing on fresh fruit and vegetable industry

07.05.2019

pbb Deutsche Pfandbriefbank has provided a €75 million facility to a subsidiary of Hines Global Income Trust Inc. The facility will be used for the acquisition of the specialized logistics park “ABC Westland”, located in Poeldijk, which is close to The Hague. The logistics parks focusses on the fresh fruit and vegetable industry, providing a wide range of services such as marketing, logistics, packaging and quality assurance. The transaction closed at the start of May 2019.  

The property encompasses in total 117.000 sqm of commercial space and infrastructure under freehold. The Park mainly features warehouses and office space. It comprises 13 buildings which are let to around 50 tenants. The ma-jority of the properties within ABC Westland are fully let.

Andy Smith, Managing Director, Hines Netherlands, commented: “Hines is grateful for the continued support of and growing relationship with pbb Deutsche Pfandbriefbank in the logistics sector in the Netherlands and indeed across the European platform.”

Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, commented: “We are delighted to complete the second transaction of this kind in the Netherlands with Hines, who are a stra-tegic client for pbb. For pbb, this transaction marks a further drive into the Dutch lending market.”

Media contact:
Walter Allwicher, +49 89 2880-28787, walter.allwicher@pfandbriefbank.com