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Pbb arranged €99.2 million financing for Argan

Pbb Deutsche Pfandbriefbank provided a €99.2 million senior loan facility to Argan. In October 2019, Argan acquired the shares of the SCI “Cargo”, who owns a warehouse portfolio for an amount of €898 million which is fully let to Carrefour on long term leases and comprises twenty-two logistics assets spread across France. The portfolio was divided into five sub-portfolios for financing purposes. The loan facility provided by pbb refinances one of these sub-portfolios.