ING Real Estate Finance closed a €228 million Pan-European Secured Facility to finance European logistics and industrial properties acquired by regional subsidiaries of AMB Property, L.P. This enables AMB to leverage its acquisitions and expansion in these assets under one agreement across The Netherlands, Belgium, Germany, France, Spain, Italy and the United Kingdom.
Gayle Starr, AMB senior vice president, said: "We are pleased to have secured this acquisition line, which coupled with a term loan facility further enhances our ability to acquire assets as we expand our presence in Western Europe."
Michiel Rang, Senior Managing Director ING Real Estate Finance, said: "This transaction demonstrates ING Real Estate Finance's leading role in pan-European facilities and how our customer centric approach helps clients' reach their objectives."
ING Real Estate Finance, one of the three business lines that comprise ING Real Estate, provides a wide array of creative financing solutions, tailored to meet specific client objectives. ING Real Estate Finance manages a portfolio of more than €22 billion.
Source: ING Real Estate