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Hamburg-based investor MPC Capital has announced the refinancing and further expansion of ABN Amro MeesPierson Real Estate Growth Fund.

The Dutch arm of MPC Capital has completed the €60 mln long-term refinancing of the fund with Austrian Bank Bawag PSK in combination with a private placement and said it has just closed the acquisition of a brand-new European distribution centre in Zaltbommel, the Netherlands.

'We have not only been able to create a long term stable capital structure for this fund to secure strong and stable dividend payments for our investors but we have firmly positioned the fund for further growth in the Dutch and German logistics and light industrial property market,' said Pieter Akkerman, managing director of MPC Capital.

MPC Capital acts as the fund manager for the ABN Amro MeesPierson Real Estate Growth Fund, which has just reached a size of €120 mln. Structured as a non-listed REIT in the Netherland, the fund invests in logistics and light industrial real estate and has an almost 100% occupancy rate.

The European distribution center of Hitachi Data Systems in Zaltbommel was completed in May
2013 and was bought from Kadans Nederland. It has a gross surface of 31,000 m2 and is leased to Hitachi with a 15-year lease agreement.

MPC Capital has been advised by CBRE, Loyens & Loeff and Boekel de Neree.