Bankinter Investment, the private banking arm of the financial institution, has closed with ING the refinancing of the acquisition of the Montepino logistics asset platform by its new alternative investment vehicle.
The transaction is the largest underwriting by a bank in the Spanish logistics sector and one of the largest in Europe. The €470 million loan has a term of five years, with a loan-to-value of 51%. ING will now open a process for the syndication of the loan.
Last May, Bankinter announced the acquisition of 95% of Montepino from CBRE Global Investors through a company created by Bankinter and Montepino’s managing partner, Valfondo.
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