AEW Europe, on behalf of its Logistis Fund, has refinanced the Fund’s French portfolio with ING Real Estate Finance, for a total facility amount of €420m.
The refinanced portfolio, which includes the Corridor portfolio acquired from GLL in December 2015, comprises 55 grade A, multi-tenant logistics assets totaling 1.6 million m², in prime logistics locations around Paris, Marseille, Lille, Le Havre, Lyon and Toulouse.
AEW Europe will use the funding to support its expansion of Logistis across the European logistics market, through the further acquisition of existing assets and development opportunities.
Luc Bordereau, managing director in charge of Fund Operations, said: “We are pleased to have come to this agreement with ING as Sole Underwriter for the refinancing, following a selective tender process which generated strong interest from banks for the Fund profile and the LOGISTIS team’s track record. ING clearly demonstrated its underwriting and execution capability during the process, which led us to working with the team as our preferred partner on the transaction.”
