pbb provides EUR 31.96 million facility to Savills IM

pbb Deutsche Pfandbriefbank has provided a 31.96 mn EUR credit facility to ELF3 one of Savills IM open-ended funds fully dedicated to logistics across main European liquid markets – mainly Germany, France and Benelux – to finance the acquisition of a state of the art logistics platform.

The last-mile logistics platform was heavily refurbished over a 9 month period, which was completed in March 2022, and develops 12,267sqm. It is located in Longvic, an identified logistics sub-market in the suburbs of Dijon, along the French logistics corridor. A 12-year close lease was signed with a US e-commerce giant.

Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "We have a long standing relationship with Savills IM and are very pleased to support them once again in their recent logistics acquisition in France. France is a key market for pbb and we are looking forward to other transactions with Savills IM across all real estate markets.”