German lender Aareal Bank has announced the closing of a financing agreement with global investment manager GLP to provide a €400 mln facility for refinancing the purchase of 27 prime logistics properties in the UK, Germany, France, the Netherlands and Belgium. Aareal is acting as arranger and sole lender in the deal.
GLP is a major global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies, with over $100 bn in assets under management.
‘We are glad to further extend our business relationship with one of the globally leading logistics experts,’ said Christof Winkelmann, member of the Management Board of Aareal Bank. ‘GLP does not only has an impressive track record in setting standards for investing and operating logistics portfolios to increase value for their investors, it is also setting benchmarks when it comes to social and environmental responsibility.’
GLP was advised by Kirkland & Ellis. Aareal was advised by Allen & Overy.