Pbb Deutsche Pfandbriefbank, the commercial real estate finance specialist, provided loans totalling approx. €87m to borrowers owned by Aberdonia French Properties 1 SCI. The transaction closed in May 2017. For this senior loan facility, pbb provided a comprehensive range of services, acting as arranger and sole lender as well as facility agent and security agent.
The facility has been offered to refinance an existing loan provided by pbb Deutsche Pfandbriefbank in December 2016 and to partially finance a capex programme in relation to 30 light industrial and office properties located in France.
The borrowers and Aberdonia French Properties 1 SCI are part of a pan-European industrial structure owned and managed by Industrial Securities. Industrial Securities focuses on the acquisition, development and management of logistics warehousing, industrial and commercial property throughout Europe.
The Aberdonia European portfolio comprises 82 real estate assets in Europe. 30 of these assets are located in France and offer circa 218,000 m² of space in wellestablished logistics zones, of which circa 40% are located in Ile de France.
Norbert Müller, Head of Real Estate Finance Continental Europe West at pbb, said: “This loan facility marks already our fourth transaction with Industrial Securities. We are very pleased to have been repeatedly chosen by Industrial Securities as their banking partner of choice and we are looking forward to engage in similar projects.”