pbb Deutsche Pfandbriefbank will provide SEK 492mn (EUR ~48mn) to NREP, one of the largest real estate investment managers and owners of modern logistic properties in the Nordics. The total amount divides into an investment and a development facility and supports NREP’s acquisition of properties in Kallhäll, Landskrona and Brunna, all very attractive logistic locations in Sweden.
The investment loan will partly finance a 45,600sqm central warehouse in Kallhäll outside Stockholm, and a 23,000sqm distribution centre located along the highway in Landskrona in southern Sweden. The development loan will support the construction of a 30,000sqm partly pre-let logistics facility along the highway in Brunna, one of the best logistics locations in the greater Stockholm area.
Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb Deutsche Pfandbriefbank, said: “We are extremely pleased to establish a relationship with NREP, a very experienced and competent property investor and support them in both, the acquisition and the development of the assets”.
Johan Rylander, Debt Finance Country Lead Sweden at NREP, said “We are very happy to have executed this loan on behalf of one our managed funds. We are also very satisfied with establishing the relationship with pbb and grateful for their professional support with these acquisitions.”