Citi funds Blackstone’s €473m European logistics buy

Citibank has financed Blackstone’s acquisition of a logistics portfolio in France and Germany at a margin in the region of 300 basis points. Its €350m loan represented a 75% LTV against the €473m purchase from French investor Foncière des Régions. The 17 assets are financed for the next five years. Another recent European logistics financing is Blackstone Real Estate […]

Citibank has financed Blackstone’s acquisition of a logistics portfolio in France and Germany at a margin in the region of 300 basis points.

Its €350m loan represented a 75% LTV against the €473m purchase from French investor Foncière des Régions. The 17 assets are financed for the next five years.

Another recent European logistics financing is Blackstone Real Estate Debt Strategies’ €220m loan for Internos Global Investors’ Invista European Real Estate Trust, secured against mainly French and German distribution assets.

BREDS is seeking to syndicate €100m and is thought to have several participants lined up – from European banks to debt funds and large US investment banks.

The facility has an initial maturity of three years and a margin of 770 bps.

 

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