ProLogis completes 2 financings totaling $222 million, used to pay down European fund debt
By APThursday, June 17, 2010
ProLogis closes $222M in financing for Europe fund
DENVER — ProLogis, a real estate trust that specializes in distribution facilities, said Thursday that it completed two financings to pay down debt held by its European Properties Fund II.
The first was an interest-only loan for $174.3 million that was secured by 11 distribution facilities in the United Kingdom. The deal was with Lloyds TSB, a new lender for ProLogis.
The second is an interest-only loan for $47.4 million from Helaba, a German lender the company first dealt with last year. It is backed by six facilities in Slovakia.
In afternoon trading, ProLogis shares rose 8 cents to $11.24.
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