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Edited: Jennifer Brenner
Source: ProLogis
Leading global provider of distribution facilities, ProLogis, announced it has completed a euro 41.4 million financing on behalf of ProLogis European Properties Fund II (PEPF II). Proceeds from the financing were used to pay down PEPF II's warehouse line of credit.
A European bank based in Austria provided the five-year loan that is secured by a portfolio of six assets in Poland, representing a 52 percent loan-to-value.
"With this financing, we have demonstrated our access to debt capital in the central European region with one of the few new secured real estate loans to be completed there during 2009. We also established a new lending relationship and are pleased that lenders continue to be attracted to the strong and stable cash flows generated by ProLogis' assets," said William E. Sullivan, ProLogis' chief financial officer.
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November 05, 2009
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