ING Real Estate has closed a EUR 400 mln loan facility for Foncière Europe Logistique. The borrower will use the loan to fund the acquisition of a logistics portfolio from Prologis, comprising 49 warehouses in various French cities such as Aulnay, Sénart and Vitrolles.
ING Real Estate has closed a EUR 400 mln loan facility for Foncière Europe Logistique. The borrower will use the loan to fund the acquisition of a logistics portfolio from Prologis, comprising 49 warehouses in various French cities such as Aulnay, Sénart and Vitrolles.
The facility was co-arranged with Calyon Credit Agricole on a 50-50 basis. ING RE expects to syndicate a portion of the total facility to other banks and investors. Foncière Europe Logistique is a listed French company with a total real estate portfolio valued at EUR 1.5 bn. The company's portfolio is managed by leading French real estate company Foncière des Regions.
Commenting on the transaction, Michiel Rang, CEO of ING Real Estate Finance International, said: ‘We are delighted with this transaction, which we were able to close in an extremely short time frame. It will serve to reinforce our presence as a major player in the French market.’
