PGIM Real Estate provides over €300m to finance geographically diversified logistics portfolio across Germany

PGIM Real Estate has provided a senior loan of more than €300 million ($334 million) to a European logistics platform to finance a portfolio across Germany on behalf of its European Core Debt investment strategy.

The portfolio consists of high-quality, geographically diversified arterial logistics assets totaling more than 510,000 square meters (5.5 million square feet), with construction dates ranging from 2004 to 2022. The German logistics market benefits from being central to supply chains across Europe, and all assets are located in or around established key logistics regions in Germany including Frankfurt Rhein-Main, Rhein-Ruhr, Leipzig and the Greater Munich area, with most benefiting from BREEAM ratings of Very Good or above (or comparable DGNB Gold ratings).

Tenants comprise household names and are diversified across a broad range of industries including non-food retail, home furnishing, warehousing and distribution services as well as car manufacturing.