pbb provides acquisition financing of Finnish logistic centre

pbb Deutsche Pfandbriefbank has provided an investment facility of EUR 41 million to a property vehicle recently set up by Ness, Risan & Partners (NRP), an independent and privately owned Norwegian investment firm with a strong position in the Nordic real estate markets.

The loan was provided to support the acquisition of a single-let logistics centre located in Greater Helsinki. The transaction closed in May 2019. The property comprises some 40,000 m² lettable area in total and is fully let to Onninen Oy on a long lease.

Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “We are happy to grow our client base in the Nordics and establish a relationship with NRP to support them in their expansion in Finland. The property is a strategic asset for Onninen Oy, a leading B2B technical wholesaler in Scandinavia.”