European Logistics Investment (ELI) has secured an EUR 111 mln loan agreement with Berlin Hyp for the refinancing of four logistics projects in Poland.
The funds are to be used to refinance logistics projects in Bielsko-Biała, Ruda Śląska, Warsaw and Toruń – in total, seven buildings with a combined 216,000 sqm gla.
ELI is owned by Redefine Properties, Madison International Realty and Polish investment manager Griffin Real Estate.
“ELI has been experiencing rapid growth, quickly expanding its portfolio by adding attractive properties in key logistics locations in Poland. Securing long-term financing will allow us to maintain the momentum and enable the company to achieve expansion goals” said Łukasz Toczek, the senior vice-president for investment at Griffin Real Estate responsible the development of the ELI platform
ELI’s current portfolio comprises of 32 logistics projects with 51 buildings and a total area of more than 1.3 mln sqm gla, including 760,000 sqm of standing assets, 201,000 sqm under construction and a further 318,000 sqm in the pipeline.