Pluto Finance has completed €93 million ($108 million) of lending across two transactions in Germany through its £2 billion ($2.7 billion) strategic partnership with Blackstone Real Estate Debt Strategies (BREDS), marking the first deployment of the partnership in the German market, according to media outlets.
The transactions comprise a €57 million ($66 million) facility secured against three last-mile logistics assets in Berlin and a €36 million ($42 million) facility secured against a grocery-anchored retail center in Hamburg.
The Berlin assets are sponsored by Valor Real Estate Partners and QuadReal Property Group and form part of a wider 15-asset German logistics portfolio spanning more than 222,000 square meters (2.4 million square feet).
