CBRE Investment Management (“CBRE IM”) has secured a new finance facility for its Pan Europe Logistics strategy. The Facility will be provided by a syndicate of three banks acting as Mandated Lead Arrangers and consisting of ABN AMRO Bank (“ABN AMRO”), Crédit Agricole CIB (“CACIB”) and ING Bank (“ING”), all three of which are trusted banking partners of the strategy.
The initial €275 million unsecured term loan facility includes an accordion up to €500 million. The new facility is structured to become Sustainability Linked in the course of 2023 and will be used to refinance maturing debt and finance new acquisitions, allowing the strategy to grow further and position itself to access multiple debt capital sources.
Tom Berens, Senior Director, Treasury Debt & Financing Team at CBRE Investment Management said: “Today’s announcement is the culmination of a very thorough process and we are delighted that this facility has been secured. It is a testament to our reputation as a firm and to the strong relationships with our strategic banking partners that we prioritise. Despite this capital-constrained market, we are still able to raise a significant debt quantum and we look forward to harnessing the opportunities this new facility will allow us to capitalise on.”
Axel Sibmacher van Nooten, Managing Director at ABN AMRO said: “With Sustainability being the core to ABN AMRO’s purpose, we see a clear role for ourselves to support our clients in transitioning to more sustainable investment portfolios with high ESG standards. As such we are pleased to have acted as Coordinator and Mandated Lead Arranger in this facility along with CACIB as Mandated Lead Arranger and ESG Coordinator and ING as Mandated Lead Arranger and Facility Agent in support of CBRE IM’s strategy to continue growing its business over the coming years, whilst simultaneously contributing to the overall sustainability goals of CBRE IM as a firm.”
Régis Aubert, Managing Director at CACIB said: “We are delighted to pursue, through this facility, our partnership with this flagship fund of CBRE IM and to have contributed to putting in place a sustainability-linked loan at the highest standard of the industry, a testimony of CBRE IM strong ESG ambitions for its Pan Europe Logistics strategy.”
Arie Hubers, Head of ING WB Real Estate Sector Benelux, said: “We treasure the strategic partnerships we have with our clients and value the longstanding relationship we have with CBRE IM across regions. It is with great pleasure that we contribute to CBRE IM’s Pan Europe Logistics strategy. Our ambitions are a perfect fit: we aim to enhance sustainability in real estate, together with trusted (lending) partners in the market.”
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $148.9 billion in assets under management* as of March 31, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.