Munich, 29 August 2022 – pbb Deutsche Pfandbriefbank (“pbb”) has provided a 115.4 mn EUR credit facility to abrdn European Balanced Property Fund SICAV-FIS. The facility is secured on a portfolio of logistics assets located across the Netherlands.
The portfolio consists of six properties including two assets that will be added to the portfolio once completed. The portfolio can be classified as high institutional with annual rental income of c. 10 mn EUR, low vacancy and total lettable floor area of c. 180,000 sqm.
Norbert Mueller, Head of RE Finance Continental Europe West at pbb said: "We are delighted to expand our relationship with the existing strategic client for the bank to the Netherlands with a strong logistics portfolio.”
Gert-Jan Kapiteyn, Fund Manager at abrdn said: “This is an outstanding financing transaction with our partner pbb, testimony to the high quality of the fund’s logistics assets in the Netherlands, and further enhances the performance and growth potential of the fund”.
Media contact:
Björn-Jakob Treutler, +49 6196 9990-2930,
bjoern-jakob.treutler@pfandbriefbank.com
Note to editors:
pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a leading European commercial real estate and public investment lender. It is a leading issuer of Pfandbriefe and an important issuer of covered bonds in Europe. Deutsche Pfandbriefbank AG is listed on the Frankfurt Stock Exchange.
In addition to Germany, the main business focus is on the UK, France, the Nordic countries and selected countries in Central and Eastern Europe. In these core markets, pbb offers its customers a strong local presence with expert knowledge across the whole spectrum of the financing process. As a result of its competencies in loan structuring, its cross-border approach and co-operation with funding partners, pbb is able to complete both complex financings and cross-border transactions.