German financier pbb Deutsche Pfandbriefbank has provided a £40 mln (around EUR 50 mln) senior facility to finance a UK logistics property for Prologis European Properties Fund II.
German financier pbb Deutsche Pfandbriefbank has provided a £40 mln (around EUR 50 mln) senior facility to finance a UK logistics property for Prologis European Properties Fund II.
The transaction closed on 15 June 2012. Pbb was the arranger, sole lender and hedge provider of this financing of the 76,000 m2 Daventry distribution centre. The property is let to retailer Tesco Stores on a 25-year, full repairing and insuring lease. It forms part of the Daventry International Rail Freight Terminal (DIRFT).