MAINZ – 19 October 2009 – Westdeutsche ImmobilienBank AG (WestImmo) announced today it has completed a €100 million structured financing with ProLogis (NYSE: PLD), a leading global provider of distribution facilities,on behalf of ProLogis European Properties Fund II.
WestImmo provided a five-year €100 million loan, maturing in August 2014, with a 55% loan-to-value that is secured by a portfolio of 14 German and UK prime distribution facilities.
“We are pleased to have concluded another cross-border facility and to expand our relationship with Westdeutsche ImmobilienBank AG, a reliable partner for ProLogis in Europe and Japan,” said Christian Nickels-Teske, Head of Treasury Europe at ProLogis. “This financing also demonstrates our continued ability to access the capital markets.”
Heribert Eisenburger, Managing Director at Westdeutsche ImmobilienBank AG, added: “ProLogis has proved itself to be a professional partner with the ability to complete transactions quickly and effectively. The excellent quality and locations of these distribution facilities add up to an attractive financing opportunity for us.”
About Westdeutsche ImmobilienBank AG:
WestImmo is the centre of competence for real estate financing and transactions within the WestLB group and one of Germany’s leading real estate financer. The bank is represented in Berlin, Düsseldorf, Hamburg, Mainz, Münster and Munich as well as in London, Madrid, New York, Paris, Prague, Warsaw and Tokyo. For further information about Westdeutsche ImmobilienBank AG, go to www.westimmo.com.
About ProLogis
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,500 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to www.prologis.com.