CBRE Global Investors’ European Industrial Fund has financed a portfolio of nine French and Spanish logistics assets with ING, and launched a search for finance for a portfolio of the fund’s Italian properties.
ING Real Estate Finance lent €56.3m, at a consolidated loan-to-value of 40%, on the seven French and two Spanish investments, said CBRE Global Investors’ head of treasury, Valérie Fort.
CBRE GI’s head of logistics, Pierre-David Baylac (pictured), said the French assets included a speculative development of a 26,500 m2 building in Paris, which will be the fourth and final phase of logistics park La Porte des Champs, as well as four smaller cross docks, an investment in Lille and a park in Plaine de l’Ain which the fund acquired last year in Lyon.
The two Spanish assets are in Madrid’s Henares corridor.
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The full story appears in the latest weekly edition of EuroProperty, part of the PropertyEU Group.
