“Modern warehouses with tenants from the manufacturing, logistics, and e-commerce industry confirm their investment potential. They are increasing their position as a precious asset in the commercial real estate sector also in Europe and play a key role in the strategy of the world’s biggest funds. We continue along the path to gradually refinance our entire portfolio. The portfolio stability is enhanced, and its effectiveness in the long-term perspective – positively impacted. Owing to the trust placed in us by important banking institutions, i.e. ČSOB, UniCredit Bank, and Aareal Bank, we are able to develop additional projects to build high-quality spaces for modern business, which is the key to Europe’s sustainable future”, says Milan Kratina, the Management Board President and co-founder of the Accolade Industrial Fund.
The refinancing concerns four Czech and four Polish parks in the following locations: Cheb, Hořovice, Pavlov, Stříbro, Bydgoszcz, Białystok, Mińsk Mazowiecki and Legnica.
Over the next years, the refinancing agreement means Accolade will be able to reduce bank financing costs, limit administrative burdens and increase portfolio stability. The financed portfolio includes modern industrial parks with a BREEAM certificate.
“We are convinced that leveraging high-quality industrial real property causes the logistics and production market to have a large potential in the long-term. The most important added value that we bring to our partnership is vast experience in financing logistics centers, not only domestically, but also internationally, and first and foremost – cooperation with a reliable partner, such as Accolade”, argues Jakub Dusílek, Chairman of the Board of Directors and CEO at UniCredit Bank.
“We believe in the Czech real property market, especially given the cooperation with an experienced long-term partner, such as Accolade, which shares our sustainable development vision. As an agent handling this transaction, we appreciate the quality of the refinanced portfolio, and, more importantly, high environmental standards”, stresses Ján Lučan, member of the Board of Directors and Senior Executive Officer – Relationship Banking at ČSOB.
“We are again pleased about the trust Accolade has put in us. This transaction strengthens our cooperation and underlines our expertise in financing complex logistics portfolios. And it especially proves our ability to implement industry trends – together with our clients”, says Hubert Manturzyk, General Manager, Aareal Bank.