Accolade increases profitability of Polish portfolio by refinancing with Aareal Bank
Accolade has signed a refinancing agreement with Aareal Bank for six of its industrial parks in Poland. The properties are located in Szczecin, Bydgoszcz, Lublin, Legnica, Bialystok and Zielona Gora. This refinancing, in an aggregate value of €153m, is one of the largest financial transactions in the industrial real estate segment in Central Europe this year. For Accolade, the refinancing agreement means reduced costs of bank financing and less administrative burden and assurance of portfolio stability for years to come.