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DEUTSCHE PFANDBRIEFBANK AG

(PBB)
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02.11.2021 pbb and Aareal Bank provide a £170mn medium term refinancing loan facility to EQT Exeter for a portfolio of 13 UK logistics properties

11/02/2021 | 08:40am EST

pbb Deutsche Pfandbriefbank (pbb) and Aareal Bank have jointly underwritten an investment facility, totalling £170mn to refinance a logistics portfolio located across the UK for EQT Exeter. pbb acted as Lead Arranger, with pbb and Aareal Bank providing equal portions of the funding; pbb also acted as facility and security agent of the transaction.

The portfolio comprises 13 properties providing approximately 2.6m sq ft of logistics and warehouse space in established logistics locations. The portfolio is let to a mix of good quality tenants including Clipper Logistics, Boohoo.com, The Range and TechnoCargo Logistics.

Charles Balch, Head of Real Estate Finance International Clients, UK, CEE & USA at pbb Deutsche Pfandbriefbank said: "We are very pleased to support EQT Exeter in the refinancing, together with our co-lender Aareal. The deal underlines our continued strong interest in the UK real estate market, in particular in the logistics and warehouse markets in key locations."

Bill Redmond, General Manager Aareal London Branch, added: "The logistics sector performed with remarkable strength during an economically challenging period. We don't expect that to be a short investment time trend, boosted by the pandemic. We rather see a demand driven structural change, that provides positive long-term prospects for the market segment. Hence we are delighted to support such a high quality investor as EQT Exeter in this segment via this transaction."

Nicholas Boccella Director, Debt Placement at EQT Exeter said: "EQT Exeter are grateful to pbb and Aareal for their continued support in helping us create value for our investors by delivering sustainable and future-proofed assets while capitalizing on key demographic and urbanization trends."

Disclaimer

Deutsche Pfandbriefbank AG published this content on 02 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 November 2021 13:39:09 UTC.


© Publicnow 2021
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Sales 2021 564 M 643 M 643 M
Net income 2021 173 M 198 M 198 M
Net Debt 2021 - - -
P/E ratio 2021 8,92x
Yield 2021 8,89%
Capitalization 1 505 M 1 720 M 1 718 M
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Last Close Price 11,20 €
Average target price 12,40 €
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Andreas Arndt Chief Executive & Financial Officer
Günther Bräunig Chairman-Supervisory Board
Georg Kordick Member-Supervisory Board
Dagmar P. Kollmann Vice Chairman-Supervisory Board
Heike Theißing Member-Supervisory Board