ING has signed the refinancing of the Spanish industrial portfolio of Aristeas Logica, the joint venture of Partners Group and Aristeas, which includes last mile logistics and distribution assets located in Madrid and Barcelona. The transaction has been closed with an initial value of €67 million and could be increased to €150 million in a second phase. The bank acted as sole structurer and green coordinator in the transaction, providing customised financing and supporting the promotion of sustainable financing.
This agreement marks a precedent for ING in Spain, as it is the first time that the BREEAM environmental assessment and certification system has been used, a company with which ING reached an agreement for the sustainable development of the bank's portfolio of assets in Spain and Portugal.
ING consolidates its position in the Spanish real estate market
In addition, ING closed the first half of 2024 with ten transactions, achieving a 20% increase in the volume of revenue in the real estate segment compared to the same period of the previous year. The bank highlighted its focus on the residential and logistics sectors, which make up a significant part of ING's real estate finance portfolio in the Iberian region.
Julián Bravo, head of real estate finance for ING Spain and Portugal, said: "This transaction represents our commitment to a customer-first and sustainability-first strategy. Our objective is to provide value transversally from these two axes, and through support, advice and financing formed by a global network and led by local experts".
