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
