Brookfield secures €150m loan facility from LaSalle
Global real estate investment manager LaSalle has provided a €150m (£128m) loan facility to refinance a portfolio of 17 big-box logistics assets owned by Brookfield across Europe.
The refinancing of assets, owned through Brookfield’s private real estate funds, has been made via LaSalle’s flagship real estate debt fund, LREDS IV.
Canada-headquartered asset manager Brookfield has partnered with development managers Panattoni and Logistik Service to source opportunities, and develop and lease the projects being refinanced.
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The portfolio includes 17 projects across Sweden, Spain, Germany and Poland, split between six completed projects (five of which are fully let), four in development and seven consented plots.
It focuses on grade-A high-specification logistics assets with a typical BREEAM sustainability rating of ‘very good’ or ‘excellent’.
“Working with a best-in-class sponsor in Brookfield and two top-tier development managers in Panattoni and Logistik Service means our facility is secured against some of the highest-quality assets and projects available in the European logistics market,” said LaSalle head of real estate debt strategies David White.
“Our team works to provide bespoke solutions to our borrower’s needs and we are pleased to support such a high-quality logistics portfolio.”
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Brookfield’s real estate group managing director Rohit Srivastava added: “We are pleased to work with LaSalle to complete this refinancing, which will support the continued growth of our portfolio of big-box logistics assets. The team were able to provide a bespoke financing package that addresses our requirements.”
LaSalle manages approximately $89bn (£70bn) of assets in private and public real estate property and debt investments as of the third quarter of 2023.
LaSalle Debt Investments is part of LaSalle’s growing $10bn debt and value-add strategies platform in Europe and invests in a diverse range of real estate credit solutions – spanning senior loans, whole loans, mezzanine, development finance, corporate finance, NAV facilities and preferred equity.
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