16 February 2023

Carey Olsen advises Deutsche Pfandbriefbank AG on financing of UK logistics portfolio

Carey Olsen's Jersey banking and finance team has advised Deutsche Pfandbriefbank AG (pbb) in relation to a circa £117 million debt facility made available to Boreal IM (Boreal) to refinance a portfolio of UK logistics assets as part of Boreal's joint venture with Cadillac Fairview.

The three UK logistics assets form part of a 200,000m2 European portfolio that includes additional assets located in the Netherlands and Spain refinanced by pbb under a separate debt facility.

Working alongside lead onshore counsel Allen & Overy, the Carey Olsen team advising pbb on the UK financing was led by partner Peter German and supported by senior associate Nick Ghazi.

Peter German commented: "Carey Olsen is delighted to have supported pbb on this important transaction, and we look forward to working with the bank again in the future.  We are pleased to demonstrate Carey Olsen's expertise in financing transactions of this complexity."

pbb Deutsche Pfandbriefbank is a leading specialist bank for investments in commercial real estate and public infrastructure projects in Europe and the USA.

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