PGIM Real Estate, the real estate investment business of the $1.3 trillion PGIM, has expanded its European senior loan portfolio by providing financing for two portfolios in the Netherlands.
PGIM Real Estate said it provided €56 million ($66 million) of loans for the acquisition and refinancing of seven freehold logistics assets in the Netherlands, comprising 115,000 square meters (1.2 million square feet). Located near Amsterdam, the assets are leased to six tenants, including large providers of transportation and logistics services and grocery delivery. The loan has an initial term of three years.
The firm also provided a €105 million ($123 million) loan to refinance the development of a residential private rented sector portfolio in Amsterdam and Eindhoven. The two-asset portfolio, owned by Foolen & Reijs Vastgoedgroep, comprises a 13-story mixed-use property in Amsterdam consisting of 195 residential units and a property in Eindhoven totaling 437 residentia
