MünchenerHyp finances acquisition of two logistics properties in greater Madrid area
Münchener Hypothekenbank eG (MünchenerHyp) provided a long-term loan of € 58.2 million to finance the acquisition of two logistics properties near Madrid. The acquisition was structured as a share deal. One of the properties is located in Getafe and leased on a long-term basis to a company of the Amazon Group. The other property is located in the Casablanca Logistics Park in Torrejón de Ardoz, a sought-after location in the logistics corridor of Alcalá de Henares, and has a widely diversified tenant structure.
The loan was granted to Real I.S. AG, a leading property investment firm, on behalf of one of their investment funds that is active across all of Europe. The transaction is a further milestone in the long-standing successful business relationship between Real I.S. AG and MünchenerHyp.
Jan Polland, Head of Commercial Real Estate Finance at MünchenerHyp noted: “Spain is an important real estate market for us. We have been successfully financing properties in good locations with conservative lending and risk parameters for several years. This strategy has also proven its value under the currently difficult and challenging conditions and allowed us to make further advances in our new business activities in Spain this year at an acceptable level of risk despite the Corona pandemic”.
Marcus Tietge, Regional Head of Commercial Real Estate Finance in Munich and in particular for major clients with international focus adds: “Our aim is be a reliable financing partner. For this reason, we continue to stand by our internationally active customers even in difficult economic circumstances. Above all, our customers appreciate our extensive local expertise that ensures a high level of reliability and professionalism. In addition, the refinancing via Pfandbriefe allows us to offer competitive conditions to our customers”.