Deutsche Bank refinances two logistic assets

15-8, 2016

Equity Estate has successfully secured refinancing for two logistic assets through a loan provided by Deutsche Bank.

It concerns two single tenant logistic properties located at Schiphol-Rijk and Amsterdam Westpoort (Koolhovenlaan 35-45 and Lipariweg 6). The two properties are held separately in 2 Dutch SPV’s; AB CPFM Real Estate I B.V. and AB CPFM Real Estate IX B.V., owned through a joined venture with Arab Bank.

Both objects are located on good logistic and industrial locations in the Randstad area and are purpose built. The property at Schiphol-Rijk is fully let to Ricoh and measures approximately 10,200 sq m of commercial space, 6,200 sq m of office space and offers 120 parking spaces. Stora Enso has signed a long-term lease for the property in Amsterdam-Westpoort which contains approximately 24,000 sq m of commercial space, 1,400 sq m of office space and has parking spaces on the adjacent site at the Lipariweg in Amsterdam.

Nard Schuddebeurs, COO Equity Estate:
We were positively surprised about the interest in the market for refinancing our assets. With Deutsche Bank we have a good financing partner for the long-term growth.

Maarten de Jong, Senior Consultant CBRE Debt & Structured Finance:
The process of getting this refinancing in place showcased that lenders have shown a great deal of interest in financing logistic real estate. Deutsche Bank ended up in front providing financing that was the optimal combination of attractive terms and closing ability.

Equity Estate worked together with CBRE Debt & Structured Finance and Greenberg Traurig.