EXPO REAL: Pbb has provided a £52m facility to Prologis for the acquisition of three distribution centres in the UK.
The long-term facility sees the German pfandbriefe lender finance the equity used for the two distribution centres in Ryton and the purchase of another in Enfield.
Prologis developed the Ryton assets, competing in 2014. The Enfield site was a purchase on behalf of the Prologis Targeted Europe Logistics Fund FCP-FIS from the same period.
This is the second loan provided by pbb for one of Prologis’ funds, having also funded four assets in Hayes.
