Global law firm K&L Gates has advised Deutsche Pfandbriefbank AG on the refinancing of a €105 million logistics portfolio in France owned by Valor Real Estate Partners LLP and QuadReal Property Group.
Deutsche Pfandbriefbank AG is a listed German bank that focuses on commercial real estate and public infrastructure financing across Europe. Recognized for its expertise in structured finance, the bank specializes in logistics, office, and residential assets, with an increasing emphasis on ESG criteria.
This transaction involves a portfolio of five last-mile logistics platforms, representing approximately 80,000 square metres of operating space, strategically located in the main logistics areas of the Paris and Lyon metropolitan areas. It follows on from an initial facility set up in 2022, which was adjusted following the sale in 2024 of an asset located in Limeil-Brévannes.
The financing structured by Deutsche Pfandbriefbank AG reflects a strong commitment to supporting long-term ESG strategies, notably by including the financing of renovation work aimed at substantially improving the energy performance of the buildings. As such, more than 80% of the assets are targeting EPC A energy certification, in line with the increasingly stringent environmental standards of the logistics real estate market.
The Finance team was led by Paris partner Thomas Ehrecke, with support from associate Pauline Ducousso.
K&L Gates’ global Finance practice integrates the many disciplines involved in financing and restructuring transactions across markets and industries around the globe. With lawyers in offices across Asia, Australia, Europe, the Middle East, North America, and South America, the practice maintains a balance between buy-side and sell-side representation in its work on behalf of lenders, borrowers, servicers, collateral managers, trustees, rating agencies, investors, and other participants in a wide array of financing transactions.