PBB and Helaba provide SELP help
Investment & financeschedule 21 October 2013
Segro Industrial Park Wrocław is one the UK developer's Polish properties
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POLAND/CZECH REPUBLIC PBB Deutsche Pfandbriefbank and Helaba have jointly underwritten a five-year EUR 188 mln secured loan to the Segro European Logistics Partnership (SELP).
SELP is a 50:50 joint venture set up by UK warehouse developer Segro and Canadian pension fund Public Sector Pension Investment Board (PSP) for the acquisition of seed assets in Poland and the Czech Republic. Around EUR 166 mln will be used for the acquisition of the seed assets and adjacent land, with the remainder to be used to refinance future properties. The seed portfolio consists of ten stabilised class ‘A’ logistics properties (nine in Poland and one in the Czech Republic) fro
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