The refinancing is of strategic importance to the Accolade Industrial Fund. It secures a five-year portfolio loan on favourable financing terms, supporting long-term value creation for the Fund’s investors while keeping the loan-to-value ratio of the Fund below 55%.
The transaction forms part of the Fund’s continued operations following more than a decade of investment in emerging markets and the delivery of warehouse space built to European standards. The financing package consists of two components: EUR 200 million refinancing the existing portfolio for another five years, and EUR 100 millions of new financing dedicated to refinancing of additional projects. In total, it covers 14 locations - ten existing assets and four newly added projects incorporated into the Accolade Industrial Fund due to their stability and maturity. It is one of the most important warehouse financing transactions in Poland this year.
“This financing is exceptionally important - both in terms of its size and timing. The transaction clearly demonstrating the bank’s strong confidence in both the platform and the direction of the Accolade Industrial Fund’s investments in Poland. It confirms that the quality of the assets and the long-term strategy, focused on high-potential regional locations, are delivering the expected results. The funds secured will strengthen the stability of the portfolio for years to come.” says Jakub Leszczyński, Transaction Director at Accolade Poland.
Significance for the Market
This transaction confirms not only the maturity of the Polish warehouse sector but also its ability to attract sizeable institutional financing. European banks continue to view Centra Europe - and Poland in particular - as a stable and promising market for long-term investment.
The refinancing covers modern, certified assets with high energy efficiency, most of which are fully leased. This underscores the quality of the portfolio and its resilience to market fluctuations.
“The logistic market in Poland remains attractive and important for the bank. Polish economy, one of the most dynamic ones in Europe, attracts investors, tenants and lenders and in our view the trend will continue. These factors, combined with our strong relationship with Accolade Industrial Fund and mutual trust, led us to this remarkable transaction. It confirms Aareal’s expertise in structuring sizeable financings and ability to underwrite large exposures.” says Hubert Manturzyk, General Manager at Aareal Bank in Poland
