Monday, 11 August 2014
Delin Capital secures approx. €87 million loan facility from pbb Deutsche Pfandbriefbank (UK)
Delin Capital Asset Management, (‘DCAM’ or the ‘Company’), a Jersey registered real estate investment advisor and asset manager focused on investments in logistics assets in the UK, the Netherlands and Belgium, today announces that is has entered into a new c.£70 million (approx. €87 million) five year term loan facility with pbb Deutsche Pfandbriefbank.
The new loan facility will be secured against a portfolio of eight prime UK logistics assets which are all modern distribution warehouses located in well-established logistics hubs throughout the UK.
The assets are held within DCAM’s €400 million Capital Preservation Portfolio I (‘CPP I’ or the ‘Fund’) fund, its inaugural core plus logistics fund, launched in October 2012. Proceeds of the new loan facility will enable DCAM to continue to target income producing logistics assets across the UK and The Netherlands, to deliver CPP I’s investors secure, long-term, and potentially indexed linked income streams combined with real capital preservation.
Christian Jamison, Chief Executive Officer of DCAM, commented: “We are very pleased to have been able to secure this new tranche of leverage which is directly in line with our strategy for CPP I as we remain focussed on the sustainable growth of the Fund. Having successfully leveraged our Dutch portfolio earlier in the year, we are now well placed to recycle further capital into new acquisitions to ensure we continue to deliver accretive capital returns to our investors.
DCAM was advised by CMS.