pbb Deutsche Pfandbriefbank has provided an investment loan of €90m to Frasers Property Investments Europe (FPE), a subsidiary of the internationally operating real estate company Frasers Centerpoint Limited, for the acquisition of four logistics hubs.
Each of the properties is rented to logistics operator Hermes Germany, as part of its new location strategy. In this way, Hermes takes account of the increasing online trading business and the ever-increasing demands on logistics. The properties financed, which were acquired by FPE and developed for Hermes by ECE Projektmanagement, are located in the strong logistics markets of Heilbronn, Mainz, Berlin and Augsburg.
Gerhard Meitinger, Head of Real Estate Finance Germany at pbb, said: “The newly constructed logistics centres offer a highly attractive portfolio, capitalising on the strongly growing e-commerce market and the subsequent increased demand for modern logistics areas. We are delighted to have the opportunity to further extend the efficient cooperation with FPE as a very professional partner through this transaction.”