Clarion Partners Europe, the real estate investment fund manager specialising in European logistics and industrial assets, has completed a €54 mln senior debt facility with ING Bank, secured against three Dutch warehouses, two of which were acquired in 2024.
The transaction is the sixth financing between the two parties since August 2023, totalling €347 mln. Secured against 27 properties totalling 800,000 m2 across the key European logistics markets of the Netherlands, Germany, France and the UK, all the loans are green, reflecting the strong sustainability credentials of Clarion Partners Europe’s portfolio.
The Dutch loan comprises a €36.4 mln acquisition tranche secured against two recently acquired Grade A, prime logistics warehouses in Venlo and Helmond, and a €18.1 mln refinancing tranche secured against a modern, 22,524 m2 logistics facility on the edge of Rotterdam Port, which Clarion Partners Europe acquired in 2022.
The other five loans are secured against assets held within Clarion Partners Europe’s latest pan-European commingled fund or its UK-only logistics fund. These include a 7-year, €57 mln loan supporting the December 2023 acquisition of five German logistics properties; and two 5-year acquisition loans, totalling €67.6 mln, secured against UK assets in Peterborough and Widnes.
They also comprise a 5-year, €79.3 mln facility secured against 10 recently acquired UK warehouses in Redditch, Kettering, Coventry, and one in the North-West, plus a 5-year, €88.6 mln loan secured against properties in Lyon and Boisseaux, France.
Florina Capraru, director, Clarion Partners Europe, commented: 'These transactions reflect the strength of our relationship with ING, a key and long-standing blue chip lending partner. ING’s principles of sustainable issuance are very much aligned with our commitment to integrating environmental and social considerations across our portfolio, a key underpin of this relationship.'
Rory Buck, managing director at Clarion Partners Europe, added: 'The competitive terms secured across these green loans reflect the strength of the asset class and our 17-year track record. For best-in-class, tenant critical and highly-sustainable industrial and logistics assets, the investment fundamentals remain highly compelling in both the UK and Continental Europe.'
Arie Hubers, head of real estate, Benelux, at ING added: 'As a financial institution, our responsibility is to use our financing and services to actively support our client’s transition to sustainable business.
'We very much appreciate Clarion Partners Europe’s drive, expertise and ambition in building and expanding a Pan-European logistics platform whilst maintaining a prudent financial profile and taking a proactive approach towards sustainability and de-carbonizing the portfolio. We are happy to confirm our longstanding relationship with the recent series of financings.'
