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Blackstone has sourced €341 million of finance from two European banks to fund its acquisition of the logistics portfolio of Austria’s Immofinanz, Real Estate Capital can reveal.
In one of the largest financings in Hungary this cycle, pbb Deutsche Pfandbriefbank and Erste Group Bank have provided a €126m facility for a Morgan Stanley consortium’s c. €250m purchase of a mixed-use portfolio. The five-year facility is equally split between pbb and Austrian bank Erste and reflects a loan-to-value of around 50%.
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