Clarion Partners Europe, a real estate investment fund manager specialising in logistics and industrial assets, has agreed two new debt facilities, totalling €50 mln, secured against its Brébières warehouse and Marolles sur Seine development, in France.
At its Brébières warehouse, which completed in Q2 2021, Clarion Partners Europe has refinanced a previous development loan with a €36.6 mln investment facility with ING Bank, Paris Branch. Located within the main French logistics corridor, the asset is let to ID Logistics, the international contract logistics group.
At Marolles Sur Seine, in Northern France, Clarion Partners Europe has secured a €13 mln facility with two funds managed by Zencap Asset Management, which will part fund the development of a 37,295 m2, institutional quality warehouse. Targeting a BREEAM Very Good certification, the property is located 80km southeast of Paris, with expected completion in Q3 2022
Rory Buck, managing director at Clarion Partners Europe, commented: ‘Reflecting the strength of our banking and alternative lenders relationships across Europe, compelling investment case for logistics real estate, and institutional quality of both assets, these new loan facilities further improve the portfolio’s overall debt profile.’
