The refinancing relates to Hillwood’s extensive EU Club III portfolio of Class A logistics properties, comprising 18 assets strategically located in Poland and Germany – five in Germany and 13 in Poland. The investment loan is structured to be split into two tranches: EUR 303.43 mln available immediately on day one and an additional EUR 64.76 mln reserved for future developments, acceding upon completion.
We’re delighted to have reached agreement with Aareal Bank on a strategic investment plan that supports our vision for the future and facilitates the further expansion of our business in Poland and Germany.
Tomasz Jaroszewski, vice president, Hillwood Poland
The loan includes an investment facility for 14 operational assets and additional funding for four projects scheduled to commence construction in 2025. The deal also offers provision for a potential increase to EUR 500 mln of total borrowings to support further logistics developments.
We are very happy to support Hillwood in growing its portfolio of modern, Class A logistics properties in Central Europe. With its assets built to BREEAM standards, we have every confidence that Hillwood’s ambitions align with our commitment to a sustainable future.
Severin Schoettmer, Managing Director Special Property Finance of Aareal Bank
Hillwood was advised by international law firm Clifford Chance, and Aareal Bank was advised by DLA Piper, a global law firm with lawyers in over 40 countries.
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