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| ProLogis closes four financings for European Property Funds ProLogis, a leading global provider of distribution facilities, announced that it has completed four financings, two totaling euro 92.8 million on behalf of ProLogis European Properties (PEPR) and two totaling euro 89.4 million for ProLogis European Properties Fund II (PEPF II). The first for PEPR is a three-and-a-quarter year, 43 million pounds Sterling (euro 47.5 million) loan arranged by a major French bank who is a new lender to PEPR. The second is a three-year loan for euro 45.3 million completed with a German mortgage bank that is a repeat lender to the fund. The loans have a weighted average interest rate of 4.70 percent and loan-to-value ratios of between 50 and 55 percent. They are secured by Dutch and UK assets. The loans for PEPF II are with two German banks that are repeat lenders. The first is a three-and-a-half year loan for euro 60.7 million. The second is a five-year loan for SEK 295 million (euro 28.7 million). The loans have a weighted average interest rate of 4.36 percent and loan-to-value ratios of between 55 and 65 percent. They are secured by German and Swedish assets. write your comments about the article :: © 2009 Construction News :: home page |