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.