Aareal Bank is to lead a consortium of banks in financing a new logistics centre for the Tengelmann Group in Berlin. Once completed, the new warehouse in Berlin-Mariendorf will supply around 160 Kaiserââ¬â¢s supermarkets in the whole Berlin-Brandenburg region.
The investor and project developer, WEAG Grundstücks- und Beteiligungs AG, is to take over the existing warehouses used by Kaiserââ¬â¢s Tengelmann AG in Berlin and then build a single new logistics centre, which is due to be handed over in October 2004.
The transaction is worth a total of approx. ââ¬57 million.
Wilfried Euler, WEAG Board Chairman: ââ¬ÅWe have found in Aareal Bank a partner that
has an excellent understanding of the peculiarities of logistics centres and their
financing and so can provide us with a tailor-made solution.ââ¬Â
Kaiserââ¬â¢s Tengelmann, which at present uses three separate warehouses, is to rent
the new central warehouse, located on Ringstraße, from WEAG. The new building will have some 34,000 mò logistics space and 4,500 mò office space and will be able to handle some 80 HGVs per day. Its downtown location, with easy access from two of the cityââ¬â¢s main arteries, will greatly facilitate the swift and flexible supply of regional supermarkets. The building has been designed to meet the very latest logistical requirements.
Aareal Bankââ¬â¢s special division for ââ¬ÅInternational Logistics Financingââ¬Å was set up
towards the end of the 1990ââ¬â¢s. In 2003, the bank financed eleven logistics centres for
the international trading group, Carrefour (see press release of 19 February 2003) as
well as a string of other logistics projects. Aareal Bank also has special financing
divisions for hotels, shopping centres and office buildings.
Source: Aareal Bank AG
