FRANKFURT AM MAI, 20-Dec-2016 — /EuropaWire/ — DekaBank has arranged and underwritten a EUR131.6 million portfolio financing for Gramercy Property Europe plc in Germany. The portfolio consists of eight logistics properties extending to a total of 391,000m² located in various established locations across Germany, including Koblenz and Bremen. All the assets are 100% let to established tenants.
Amar Latif, in charge of German real estate lending activities at DekaBank, said: “Gramercy is an established global operator in the logistics sector and this is the bank’s first financing in Germany for them. The logistics sector in Germany is currently performing well and we are happy with the quality of the assets, the stable cashflows and conservative Day 1 LTV.”
In addition, DekaBank is providing finance for a logistics asset located in France for Gramercy Property Europe plc.
DekaBank is the Wertpapierhaus (Provider of Asset Management and Capital Market Solutions) of the German Savings Banks Finance Group. Together with its subsidiaries it forms the Deka Group, which has total customer assets of around EUR 253 billion (as at 30 September 2016) and over four million securities accounts, making it one of the largest securities services providers in Germany. It provides retail and institutional investors access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.
The Deka Group’s global property expertise is pooled in its Real Estate business division. Capital investment companies Deka Immobilien Investment GmbH and WestInvest Gesellschaft für Investmentfonds mbH manage and service property assets worth more than EUR 28 billion (as at 30 June 2016), jointly with service company Deka Immobilien GmbH. DekaBank’s property financing department is the second key element within the business division and generates a new business volume of some 2.5 billion Euros p.a.
Dr. Daniela Gniss
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