Dentons has advised pbb Deutsche Pfandbriefbank and Helaba Landesbank Hessen-Thüringen on the €155 million refinancing of the European Logistics Investment (ELI) portfolio of 11 logistics parks in nine locations across Poland with a total GLA of over 335,000 sqm.
pbb and Helaba acted as joint lead arrangers providing equal portions of the funding. pbb also acted as facility and security agent of the transaction.
ELI is a logistics platform focused on the Polish market owned by Redefine Properties, Madison International Realty and Griffin Capital Partners. Its current portfolio consists of 30 logistics projects within 10 logistics hubs throughout Poland, with a total area of over 1.3 million sqm GLA.
“We are delighted to have assisted pbb and Helaba on another financing in the Polish logistics sector. This transaction confirms that the expanding market continues to attract the interest and confidence of both investors and financiers, especially when it comes to attractive and sustainable projects such as those in ELI’s refinanced portfolio," said Bartosz Nojek, Partner and Co-Head of the Banking and Finance practice, commenting on the transaction.
Bartosz Nojek oversaw the transaction and coordinated the legal team. Jakub Zienkiewicz (Counsel) led the negotiation of the loan agreement, and Kamil Bator (Associate) led the work on collateral and loan disbursement terms. Bartłomiej Kordeczka, Poland Co-Managing Partner and Deputy Head of the Real Estate practice, supervised the preparation of the due diligence report created by Martyna Racz-Suchocka (Managing Counsel), Agata Koczorowska (Senior Associate), Alicja Grabowska (Associate) and Martyna Kamińska (Associate).