MetLife's Metropolitan Life Insurance Company arm has teamed up with DekaBank to fund the acquisition of the UK Logistics Fund (UKLF).
MetLife's Metropolitan Life Insurance Company arm has teamed up with DekaBank to fund the acquisition of the UK Logistics Fund (UKLF).
The properties, consisting of 14 prime logistic warehouses and one development site in 12 locations across the UK, was bought by a joint venture between Moorfield Real Estate Fund II (MREF II) and Segro. MefLife granted £117.5 mln (EUR 140 mln) of the £187 mln senior mortgage loan facility.
The portfolio totals more than 4 million sq ft (371,000 m2). Laxfield Capital, a debt origination, execution and loan management business, worked with MetLife on the transaction.
MetLife, which provides loans on office, multi-family, industrial and retail properties in the US and internationally, has a nearly $40 bn commercial mortgage portfolio.
