The CBRE European Industrial Fund (EIF) has refinanced a portfolio of 14 core logistics assets spread over six countries in Europe.
Natixis, alongside AXA, has structured and arranged the €123.7 million refinancing of the real estate portfolio for EIF, which includes logistics assets located in France (4), Spain (1), Portugal (2), Belgium (4), Germany (1) and the Netherlands (2). Natixis was the sole arranger in the €30 million bridge loan to enable the fund to pre finance future EIF acquisitions.
Created in 2006, EIF is an unlisted, semi-open ended fund investing in logistics platforms and cross dock assets in strategic locations in European markets with a core profile.
Pierre-David Baylac, EIF Fund Manager, CBRE Global Investors said, “We are delighted to work with Natixis and AXA for the refinancing of this core portfolio. EIF is growing fast with a focus on high quality assets.”
Thierry Bernard, Head of Real Estate Finance Europe at Natixis said, “We are pleased to have assisted one of our key clients on this pan-European financing. The loan structure was customized in order to support EIF growth ambitions.”
EIF was advised by DLA Piper France LLP and Etude Allez & Associés.
The lenders were advised by Orrick Rambaud Martel and Etude Cheuvreux.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.0 billion in assets under management* as of December 31, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
Past performance is not a guarantee of future performance.
Natixis is the international corporate, investment, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France with 35 million clients spread over two retail banking networks, Banque Populaire and Caisse d’Epargne.
With more than 16,000 employees, Natixis has a number of areas of expertise that are organized into three main business lines: Corporate & Investment Banking, Investment Solutions & Insurance, and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks.
Figures as at December 31, 2015