Scannell Properties secures financing from IBB for BTS project in Hollfeld
Scannell Properties has secured a c.20 million euros senior construction loan for its build-to-suit refrigerated warehouse development for Lidl in Hollfeld, Upper Franconia. IBB (International Bankhaus Bodensee AG, Friedrichshafen) is providing the loan, which was structured with the support of Wallburg Partners.
“With surging consumer use of online grocery and food delivery services, we are observing an increased need for new and energy-efficient temperature-controlled facilities. Ambitious build-to-suit projects, like the cold storage warehouse in Hollfeld, are deeply rooted in our corporate DNA and we appreciate our clients’ ongoing trust to deliver significant infrastructure investments for them. This project financing is testament to the quality of our developments and the strength of our business,” comments Geoffrey Pizzanelli, Head of Capital Deployment Europe at Scannell Properties.
“The financing volume in the double-digit million range underlines both the confidence of banks in high-quality, sustainable logistics projects and the continued interest of international investors in the German market,” adds Niclas Wallrafen, Managing Director of Wallburg Partners.
Since the beginning of January, a 12,000 square meter state-of-the-art logistics centre specialising in the handling of refrigerated goods has been under construction in the northern industrial estate in Hollfeld. A further 20,000 square metres are to be used as yard and traffic areas. The new building is designed to meet high sustainability standards and Scannell Properties is targeting DGNB Gold certification for the project. A heat recovery system that uses zero fossil fuels, an energy efficient refrigeration system with natural refrigerants and a large-scale photovoltaic system are amongst the environmentally friendly and sustainable solutions being incorporated into the building.
Scannell has appointed Goldbeck for the construction of the building which, once completed, will be integrated into Lidl’s regional supply chain.