Boreal secures £210m loan for logistics portfolio

Boreal IM has obtained two debt facilities totalling almost £210m from pbb Deutsche Pfandbriefbank to refinance seven assets across the UK and the Netherlands. The London-based investment manager has secured a £117m loan for three properties in the UK, and a further £92m for four located in the Netherlands. Boreal IM acquired the assets in 2022 as part of its logistics joint venture with Cadillac Fairview. The jv, which aims to assemble a €3bn (£2.7bn) pan-European logistics portfolio, has deployed almost €700m to date. Germany and Italy have been identified as other target markets. The overall portfolio covers 2.2m sq ft of logistics space. The duo bought three logistics warehouses for £145m in December last year, located in Dagenham, Wolverhampton and Milton Keynes. Its first acquisitions were made in May 2022, when it purchased the Nucleus Estate in Park Royal (pictured), which comprised four warehouses, as well as an estate within the Port of Rotterdam for a combined €250m. To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Photo © Boreal IM/Blackstock Consulting