DekaBank finances the acquisition of two modern warehouse/logistic properties (DE)

DekaBank Deutsche Girozentrale has financed the acquisition of two German logistics properties for a fund owned by a Joint-Venture between Goodman Group and Chambers Street Properties, which is a self-managed REIT headquartered in Princeton N.J. The loan volume totals €63 million.

The transactions were funded on July and December 2012. The two properties consist of modern logistics facilities let to the European subsidiary of one of the world´s largest internet ecommerce providers on long triple-net leases. Total lettable area of both units is approx. 114,000 m². The properties are located in the regions of Graben and Koblenz.

Amar Latif, in charge for the German real estate lending activities of DekaBank said: "We are very pleased to have arranged and underwritten these financings on behalf of very good Sponsors. Additionally, the assets are modern, well located and underpinned by long term cash flows to good tenants which fits in very well with our underwriting criteria."

The Real Estate Lending team of DekaBank is an experienced lender and has established an international presence with offices in London, Paris, Milan, New York and Tokyo. The headquarters are based in Frankfurt. DekaBank´s Real Estate Lending Book currently amounts to €7 billion. It forms part of the DekaBank Group which is the largest provider of open-ended property funds in Germany.

Source: DekaBank

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