pbb Deutsche Pfandbriefbank has provided a €31.9m facility to ELF3 one of Savills IM open-ended funds fully dedicated to logistics across main European liquid markets – mainly Germany, France, and Benelux – to finance the acquisition of a state-of-the-art logistics platform. The last-mile logistics platform was heavily refurbished over a 9-month period, which was completed in March 2022, and develops 12,267m². It is located in Longvic, an identified logistics sub-market in the suburbs of Dijon, along the French logistics corridor. A 12-year close lease was signed with a US e-commerce giant.
Charles Balch, Head of International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "We have a long standing relationship with Savills IM and are very pleased to support them once again in their recent logistics acquisition in France. France is a key market for pbb and we are looking forward to other transactions with Savills IM across all real estate markets.”