Pbb Deutsche Pfandbriefbank has provided an SEK 410 million (€43 million) loan to recently-launched Swedish investor Logistea to finance its first deal.
The medium-term facility funds the acquisition of a 42,000 square metres logistics and office property located in the Swedish town of Landskrona, which closed in March. The property is fully let to Danish transport and logistics operator DSV Road AB on a new 15-year lease. The property, Örja 1:20, was purchased from DSV.
Logistea is listed on the Nasdaq Stockholm First North index. The firm was established with the backing of Catella Corporate Finance. In April, Catella announced that more than 200 clients of Catella Bank and its partners subscribed for shares in the newly-established Logistea.
“Pbb Deutsche Pfandbriefbank is pleased to have supported Catella Corporate Finance in its launch of Logistea and its acquisition of a modern logistics and office property. The Nordic countries are strategic markets for pbb. We continue to see strong interest from both international and domestic clients,” said Norbert Müller, head of real estate finance continental Europe west at pbb Deutsche Pfandbriefbank.
“Logistea is focusing on secured cashflow by combining first class properties leased on long term with stable and long term financing,” added Johan Ericsson, CEO of Logistea.