On October 11, 2021, European Logistics Investment announced it had signed a EUR 111 million loan agreement with Berlin Hyp.
According to ELI, the funds will be used for refinancing four projects from its logistics portfolio in Bielsko-Biala, Ruda Slaska, Warszawa, and Torun, consisting of seven buildings with a total gross leasable area of 216,000 square meters. ELI is owned by Redefine Properties, Madison International Realty, and Griffin Real Estate.
“ELI’s logistics projects offer excellent connectivity and value for businesses, and these are the reasons behind their popularity among tenants in the whole country,” said Griffin Real Estate Senior Vice President Finance, Artur Gniazdowski. “We are excited that a renowned banking institution such as Berlin Hyp has additionally validated the excellent quality of our assets by granting a loan facility.”
“ELI has been experiencing rapid growth, quickly expanding its portfolio by adding attractive properties in key logistics locations in Poland,” added Griffin Real Estate Senior Vice President Investments Lukasz Toczek, who is responsible for ELI. “Securing long-term financing will allow us to maintain the momentum and enable the company to achieve expansion goals.”
“The logistics real estate sector in Poland has been growing steadily and thus ELI is developing as an important player in the Polish logistics market,” concluded Berlin Hyp Head of Warsaw Office Justyna Kedzierska-Klukowska. “We have recognized ELI’s potential to leverage market opportunities, and that is precisely why we have decided to provide financing for its further development.”
Law firms CMS and Linklaters advised on the deal.