Accolade has completed a landmark refinancing deal worth €180 million for the development of six cutting-edge industrial parks across Poland. This marks the largest financial transaction in Poland’s warehouse real estate sector in 2024 and stands as one of the most significant deals in the country’s commercial property market. The refinancing was facilitated by a consortium of Santander Bank Polska and Germany’s Aareal Bank, each contributing €90 million. This transaction is notable not only for its scale but also for Santander Bank Polska’s dual role as both a refinancing partner and the agent for loans and collateral. The funds will support the development of six Accolade Industrial Fund properties: Białystok II Park, Bydgoszcz IV Park, Goleniów Park, Koszalin Park, Zielona Góra Park, and Bydgoszcz III Park, collectively covering more than 370,000 sqm of leased space. “This refinancing underscores the value of our portfolio, which meets tenant demand for modern and sustainable solutions. These funds provide opportunities for further growth. In 2025, we plan to invest €53 million to align Accolade parks with EU Taxonomy standards, reinforcing our commitment to long-term sustainability goals,” said Joanna Sinkiewicz, Group Commercial Director and Managing Director of Accolade Polska. This is Accolade’s third industrial property refinancing deal in Poland and the first executed in a consortium structure. “The participation of trusted financial partners like Santander Bank Polska and Aareal Bank in this transaction demonstrates market confidence in our ability to meet ambitious investment targets, supported by the strength of our tenants and financial institutions,” added Jakub Leszczyński, Transaction Director at Accolade. Santander Bank Polska emphasized its focus on sustainable investments: “Supporting key clients in achieving compliance with EU Taxonomy and sustainable investment goals is a priority for us. Acting as an agent in this transaction reflects the trust and strong relationship we’ve built with Accolade since its inception in Poland,” said Bartek Barej, Director of Corporate Finance at Santander Bank Polska. Hubert Manturzyk, General Manager of Aareal Bank for CEE, echoed this sentiment: “We are proud to increase our loan portfolio in Poland, a country with economic growth three times higher than the EU average this year. Demand for modern warehouse spaces remains robust, and we are pleased to support Accolade’s transformation of real estate into sustainable assets.” Accolade’s Polish portfolio now includes 29 state-of-the-art industrial parks, home to over 100 tenants. The total value of the portfolio exceeds €1.2 billion, spanning more than 1.6 million sqm of space. All properties meet BREEAM certification standards, addressing growing demand for sustainable logistics, e-commerce, and manufacturing spaces. This refinancing marks another step in Accolade’s efforts to support Poland’s industrial and environmental transformation.