MLP Group and BayernLB agree EUR41.25m transaction to fund Unna project
The MLP Group entered into a credit facility agreement with one of the largest financial institutions in Germany. Under the agreement, BayernLB of Munich will loan up to EUR41.25 million (approximately PLN188 million) in total to the warehouse developer.
The MLP Group will use the facility chiefly to finance the construction of MLP Logistics Park Unna. The project will ultimately deliver about 56,500 sq m of modern warehouse space.
‘We have entered into a landmark transaction securing funding for one of the MLP Group’s key projects in Germany. Given the rapid expansion of our German operations, working with local financial institutions is vital to us. The partnership with BayernLB, one of Germany’s leading financial institutions, will strengthen our financial position by providing a source of funding for the MLP Logistics Park Unna project. It also opens the way for collaboration on other projects in the future,’ says Monika Dobosz CFO of MLP Group SA.
"We are very pleased to support MLP Group in this appealing project with our in-depth financing expertise. With its modern features and planned DGNB Gold Standard, MLP Logistics Park Unna positively contributes to our strategy to finance progress and sustainability. MLP Group has demonstrated its strength to secure and develop excellent locations for logistics properties for many years in Poland, and recently also in Germany. BayernLB is proud to add an experienced player with a long-term track record in the logistics market to its international customer base," says Robert Hetzner of BayernLB.
MLP Logistics Park Unna has been preleased under a 15-year contract. The new facility will be occupied by one tenant, L-SHOP-TEAM, Germany's biggest B2B textile wholesaler. As required by the tenant, the logistics park will offer many advanced features, including a fully automated storage area, modern office space and flexible wellfare facilities, including a canteen and a kindergarten. In line with the MLP Group’s strategy, all new projects are implemented in keeping with the principles of sustainable development. MLP Logistics Park Unna is being built in accordance with the DGNB Gold Standard, to be confirmed by relevant certificates.
Construction on the MLP Logistics Park Unna project is under way. The old buildings were demolished in the first half of the year to make room for new space. Once completed, the facility is due for handover in the first half of 2022.
MLP Logistics Park Unna is being built on a 12.5 hectare plot of land, and is to ultimately deliver total leasable area of 56,500 sq m. The logistics centre is located in Unna, North Rhine-Westphalia, in the north-eastern part of the Ruhr. Being one of Europe’s largest sales markets, the Ruhr urban area is extremely attractive to logistics operators.