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Sign in Sign up for a FREE subscriptionInvesco Real Estate completes first mezzanine loan in Central Europe for Invesco Real Estate Europe Fund III
Invesco Real Estate has completed its first mezzanine lending deal in Central Europe on behalf of Invesco Real Estate Europe Fund III, the third European value-added strategy in succession for the firm.
The €20 million ($21.8 million) loan has been secured against a newly completed, build-to-suit logistics facility in Psary, Poland that is wholly leased to a Spanish multinational clothing company. The 124,000-square-meter (1.3 million-square-foot) prime facility, one of the largest in the region, has been built to high sustainability and energy efficiency standards and is certified BREEAM Very Good.
Sponsor DL Invest Group is a local Polish developer based in Katowice with a 19-year investment track record and extensive land bank which will utilize the funds to further expand its build-to-suit pipeline. In total, DL Invest Group’s portfolio covers more than 2 million square meters (21.5 million square feet) of real estate assets, with total group assets valued at â