Clarion Partners Europe has completed a €54m senior debt facility with ING Bank (ING), secured against three Dutch warehouses, two of which were acquired in 2024.
The transaction is the sixth financing between the two parties since August 2023, totalling €347m. Secured against 27 properties totalling c. 800,000m2 across the key European logistics markets of the Netherlands, Germany, France and the UK, all the loans are green, reflecting the strong sustainability credentials of Clarion Partners Europe’s portfolio.
The Dutch loan comprises a €36.4m acquisition tranche secured against two recently acquired Grade A, prime logistics warehouses in Venlo and Helmond, and an €18.1m refinancing tranche secured against a modern, 22,524m2 logistics facility on the edge of Rotterdam Port, which Clarion Partners Europe acquired in 2022.
The other five loans are secured against assets held within Clarion Partners Europe’s latest Pan-European commingled fund or its UK-only logistics fund:
A 7-year, €57m loan supporting the December 2023 acquisition of five modern, institutional-quality logistics properties across Germany, totalling 251,793m2, each with strong ESG credentials.
Two 5-year acquisition loans, totalling €67.6 million, secured against two modern, institutional quality distribution warehouses, totalling 40,732m2, in Peterborough, UK. Acquired in 2023, the transaction marked Clarion Partner Europe’s re-entry into the UK market following a seven-year hiatus; and three EPC A and BREEAM Excellent distribution warehouses in Widnes, UK, totalling 65,775m2, acquired in July 2023.
A 5-year, €79.3m facility secured against 10 recently acquired warehouses in Redditch, Kettering and Coventry, key Golden Triangle hubs, and one in the North-West, all in the UK. Totalling 106,600m2, the majority are BREEAM Very Good or Excellent certified.
A 5-year, €88.6m loan which refinanced a previous development loan, secured against a 230,000m2 portfolio comprising three recently constructed, BREEAM Very Good or Excellent properties in Lyon and Boisseaux, France.
Director, Clarion Partners Europe, commented: “These transactions reflect the strength of our relationship with ING, a key and long-standing blue chip lending partner. ING’s principles of sustainable issuance are very much aligned with our commitment to integrating environmental and social considerations across our portfolio, a key underpin of this relationship.”
Rory Buck, Managing Director at Clarion Partners Europe, added: “The competitive terms secured across these green loans reflect the strength of the asset class and our 17-year track record. For best-in-class, tenant critical and highly-sustainable industrial and logistics assets, the investment fundamentals remain highly compelling in both the UK and Continental Europe.”
Arie Hubers, Head of Real Estate, Benelux, at ING added: “As a financial institution, our responsibility is to use our financing and services to actively support our client’s transition to sustainable business. We very much appreciate Clarion Partners Europe’s drive, expertise and ambition in building and expanding a Pan-European logistics platform whilst maintaining a prudent financial profile and taking a proactive approach towards sustainability and decarbonising the portfolio. We are happy to confirm our longstanding relationship with the recent series of financings.”
Image provided by Clarion Partners.
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