The refinanced portfolio, which includes the CORRIDOR portfolio acquired from GLL in December 2015, comprises 55 grade A, multi-tenant logistics assets totaling 1.6 million sqm, in prime logistics locations around Paris, Marseille, Lille, Le Havre, Lyon and Toulouse.

The quality of the buildings, their location, the potential pipeline of this multi-tenant portfolio, together with the Fund’s proven track record, were key factors which enabled AEW to come to an agreement with ING.

AEW Europe will use the funding to support its expansion of LOGISTIS across the European logistics market, through the further acquisition of existing assets and development opportunities.

Luc Bordereau, Managing Director in charge of Fund Operations, said: “We are pleased to have come to this agreement with ING as Sole Underwriter for the refinancing, following a selective tender process which generated strong interest from banks for the Fund profile and the LOGISTIS team’s track record. ING clearly demonstrated its underwriting and execution capability during the process, which led us to working with the team as our preferred partner on the transaction.”

AEW Europe was one of the first real estate investment managers to offer a specialist logistics fund in 1999 and has since expanded the LOGISTIS portfolio with grade A logistics assets in France, Italy, Spain, Benelux, Germany and Central Europe. Clifford Chance and Monassier were advisors to the Fund, while De Pardieu Brocas Maffei and Wargny Katz acted for ING. (source: AEW Europe)