Four Accolade parks with refinancing loan from Aareal Bank

Accolade is increasing the profitability of its industrial real estate portfolio in Poland thanks to a refinancing loan of 54 million euros provided by Aareal Bank.

- Modern warehouses with tenants from the manufacturing, logistics, and e-commerce sectors confirm their investment potential. They are increasing their position as a valuable asset in the commercial real estate sector in Europe as well and play a key role in the strategy of the world's largest funds. We are continuing the path of gradual refinancing of our entire portfolio. This increases the stability of the portfolio and, in the long term, positively affects its efficiency. Thanks to the trust placed in us by banking institutions, we are able to develop further projects to build high-quality spaces for modern business, which is the key to a sustainable future for Europe - says Milan Kratina, CEO and co-founder of Accolade Industrial Fund.

Thanks to the refinancing agreement, Accolade will be able to reduce bank financing costs, limit administrative burdens, and increase portfolio stability over the coming years. The financed portfolio includes modern industrial parks with BREEAM certification.

- We appreciate that Accolade has once again placed its trust in us. With this transaction, we have strengthened our cooperation and also highlighted our competence in financing complex logistics portfolios. In particular, we have confirmed our competence in implementing industry trends together with our clients - says Hubert Manturzyk, General Director of Aareal Bank.

Accolade currently owns modern industrial parks located in all regions of Poland. Proper diversification in terms of location and an appropriate mix of tenants from various sectors guarantee an effective business model. One-third of the Group's portfolio consists of the dynamically developing e-commerce sector, one-third is logistics and warehousing, and the remainder is based on light industry, machinery, automotive, and other branches of the manufacturing industry. Accolade's tenant portfolio is constantly growing. The main feature distinguishing Accolade from the competition on the Polish market is the over 50% share of brownfield projects. Furthermore, all newly emerging parks have BREEAM environmental certificates.

This year, the Accolade group also refinanced the Czech part of its portfolio worth 150 million euros, in which the banks ČSOB (KBC Group) and UniCredit Bank were involved. The transaction concerned four parks located in Cheb, Hořovice, Pavlov, and Stříbro. The Polish and Czech transactions with a total value of over 200 million euros are among the largest financial operations in the industrial real estate segment in Central Europe.