PGIM Real Estate has expanded its European senior loan portfolio with the provision of €161m to finance two portfolios in the Netherlands.
The real estate manager has provided a €56m for the acquisition and refinance of seven logistics assets and €105m to refinance the development of a private rented sector (PRS) portfolio owned by Foolen & Reijs Vastgoedgroep.
The PRS development loan is a co-investment between PGIM Real Estate and ABN Amro, who also arranged the loan.
Andrew Macland, head of European debt, said: “Senior debt lending in the UK and continental Europe continues to present attractive investment
opportunities for non-bank lenders, such as PGIM Real Estate, with long-term trends and dynamics on display across a number of geographies and sectors.
“These deals are examples of our ability to identify interesting opportunities and continue to support sponsors even throughout the more challenging periods.”
David Gingell, executive director for continental debt origination, said: “These loans represent our commitment to write business in markets with positive long term fundamentals, even when faced with short term uncertainty.
“The Netherlands is a resilient market and presents attractive opportunities as we continue to build exposure to logistics and PRS, encouraged by the increasing shift to online retail and continued undersupply of housing.”
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