Westimmo completes EUR 100m secured loan for Prologis

German lender Westimmo announced on Monday that it has completed a EUR 100 mln structured financing with Prologis on behalf of Prologis European Properties Fund II.

WestImmo said the five-year loan, maturing in August 2014, has a 55% loan-to-value ratio secured by a portfolio of 14 German and UK prime distribution facilities.

'We are pleased to have concluded another cross-border facility and to expand our relationship with Westimmo, a reliable partner for Prologis in Europe and Japan,' said Christian Nickels-Teske, head of Treasury Europe at Prologis. This financing also demonstrates our continued ability to access the capital markets.'

Heribert Eisenburger, managing director at Westimmo, added: 'Prologis has proved itself to be a professional partner with the ability to complete transactions quickly and effectively. The excellent quality and locations of these distribution facilities add up to an attractive financing opportunity for us.'