LaSalle Investment Management has provided a loan facility of €150 mln through its real estate debt fund, LREDS IV, to refinance a portfolio of 17 big-box logistics assets across Europe owned by Brookfield through its private real estate funds.
Brookfield has partnered with leading development managers Panattoni and Logistik Service to source opportunities, develop and lease the projects.
The portfolio includes 17 projects across Sweden, Spain, Germany and Poland, split between six completed projects (five of which are fully let), four in development and seven consented plots. It focuses on grade-A high-specification logistics assets with a typical BREEAM rating of Very Good or Excellent.
David White, head of LaSalle real estate debt strategies, said: 'Working with a best-in-class sponsor in Brookfield and two top-tier development managers in Panattoni and Logistik Service means our facility is secured against some of the highest-quality assets and projects available in the European logistics market.
'Our team works to provide bespoke solutions to our borrower’s needs, and we are pleased to support such a high-quality logistics portfolio.'
Rohit Srivastava, managing director in Brookfield’s Real Estate Group, added: 'We are pleased to work with LaSalle to complete this refinancing, which will support the continued growth of our portfolio of big-box logistics assets. The team were able to provide a bespoke financing package that addressed our requirements.'
