DekaBank finances Bosch logistics facility in Worms for BentallGreenOak
Frankfurt – 01.07.2021
DekaBank has fully underwritten and arranged a €77.5M five-year senior loan on behalf of GreenOak Europe Core Plus Logistics to acquire a logistics facility in Worms. The property is well located in the center of the Rhine-Main and Rhine-Neckar logistics hubs and is a state of the art logistics facility extending to 80,318m². The tenant, Robert Bosch GmbH, has been fully occupying the property since 2014.
Amar Latif who heads DekaBank’s German origination platform said: “This is our first financing for BentallGreenOak in Germany and we are very pleased to have supported their logistics fund in this acquisition which fits our underwriting criteria very well in a sector which is proving to be quite resilient. In fact, this follows soon after our involvement in the financing of Uptown Tower in Munich with two other banks and we continue to support experienced sponsors looking to acquire core real assets in Germany.”
DekaBank is the Wertpapierhaus (securities services provider) of the German Savings Banks Finance Group. Together with its subsidiaries it forms Deka Group, which has total customer assets of around EUR 340 billion (as at 31/12/2020) and more than 5 million securities accounts, making it one of the largest securities services providers and real estate asset managers in Germany. It provides retail and institutional clients access to a wide range of investment products and services. DekaBank is firmly anchored in the Sparkassen-Finanzgruppe and designs its portfolio of products and services to meet the requirements of its shareholders and sales partners in the securities business.