Senior portfolio refinancing for a package of four logistics properties

BOCH-Portfolio Obertshausen

The property

Our client is an independent internationally active asset manager with a logistics portfolio comprising properties located in Obertshausen, Biebesheim, Herford and Gross-Gerau in southwest Germany.

The four fully-let contemporary high-specification stand-alone properties comprise logistic, cross-dock and light industrial warehouses with a total net lettable area of around 70,000 sqm.

GGC purchased the logistics properties in 2015 as single asset transactions and financed them as a portfolio over a term of approx. 5 years. Oceans & Company was exclusively instructed by GGC to advise on the procurement and implementation of tailored portfolio refinancing.

Facts & figures

Property name BOCH Portfolio
Cities Obertshausen, Biebesheim, Herford and Gross-Gerau
Asset class Logistics
Year of construction 2008 – 2015
Lettable area 70,000 sqm
Owner GGC
Activities Portfolio financing: sourcing & execution
Mandate period Q3 – Q4 2020

The challenge

Despite the logistics use class and the BOCH-Portfolio’s highly favourable KPIs, the finance tendering process met with some reluctance on the part of various German banks in terms of making competitive offers for the refinancing of the portfolio. The slowdown in internal decision-making processes caused by the second COVID-19 lockdown from November 2020 meant there was a limited timeframe in which to redeem the expiring financing arrangement on time.

The tools

Business Plan

Financing memorandum

The result

Building Value: The positive results from real estate finance for BOCH-Portfolio

Oceans and company case bloch portfolio eduard fresenius str 4 6 64584 Biebesheim
    • Successful conclusion of senior portfolio financing with a major German bank
    • Highly attractive financing conditions at a fixed interest rate