pbb Deutsche Pfandbriefbank has underwritten an approx. £80 million (approx. €91.6 million) senior finance facility to support the acquisition of a portfolio of three UK retail warehousing assets by entities advised by or affiliated with Kohlberg Kravis Roberts & Co. L.P. The facility comprises an acquisition tranche and also includes additional funds to be available during the term of the facility. The transaction closed on 12 July 2013. pbb acted as Mandated Lead Arranger, Facility Agent and Security Agent and Trustee.
Charles Balch, Head of International Clients, UK & CEE at pbb Deutsche Pfandbriefbank, commented: “We are proud to support KKR’s expansion into Europe with financing their first direct real estate acquisition.”
Guillaume Cassou, a Director of KKR London and Head of the KKR Europe Real Estate team, said: “We are excited to be announcing KKR’s first European property acquisition, and are delighted that it is in a strong portfolio which combines excellent locations and attractive opportunities for asset management.”
Source: pbb Deutsche Pfandbriefbank