pbb Deutsche Pfandbriefbank has completed a new financing facility with ProLogis European Properties for 74.5 million. The transaction was signed on 22 December 2009 and funded on 20 January 2010.
The refinancing is for a portfolio of 10 prime distribution centers in France and the U.K., all of which are fully leased to international tenants, predominantly logistics and pharmaceutical companies. All centres are located in strategic distribution locations.
Harin Thaker, Head of Real Estate Business International commented: "This transaction continues our strong track record of delivering for ProLogis and its European Funds, a fourth transaction with a core relationship for pbb in Europe. We look forward to developing this relationship further over the course of 2010".
Christian Nickels-Teske, Head of Treasury Europe at ProLogis commented: "We are pleased to have concluded another transaction and to further strengthen our relationship with Deutsche Pfandbriefbank, a repeat lender for ProLogis in Europe. The transaction further demonstrates the attractiveness of our managed prime distribution warehouse portfolio across Europe and ProLogis excellent access to the debt capital markets".
Source: pbb Deutsche Pfandbriefbank