China Construction Bank contributes to EUR 420 million syndicated lending facility to AEW Europe's LOGISTIS Fund for refinancing of its French portfolio

Project narrative

In June 2016, a syndicate of lenders -- including China Construction Bank -- reached financial close on the EUR 420 million syndication of a loan underwritten by ING Real Estate Finance to AEW Europe's LOGISTIS Fund. The deal was formally signed on March 14, 2016 between AEW and ING, with ING serving as the Sole Underwriter and Facility Agent, beginning the process of syndication that was closed in June of that year. Proceeds from the facility will be used to refinance fifty-five French assets in AEW's EUR 2 billion pan-European Logistics Fund. Lending details, including maturity and interest rate, are unknown. The portfolio of assets refinanced in this deal are fifty five multi-tenant logistics assets totaling 1.6 million square meters, located around Paris, Marseille, Lille, Le Havre, Lyon, and Toulouse. ING Real Estate Finance underwrote the loan, contributing EUR 105 million to the syndication. Two unknown German banks contributed EUR 105 million each. CCB and French banks unspecified in name and number contributed a total of EUR 105 million.