Goldman Sachs and Deutsche Pfandbriefbank have announced the completion of a new EUR 300 mln financing facility with Prologis European Properties (PEPR). The transaction was arranged by Goldman Sachs as sole arranger, with Deutsche Pfandbriefbank acting as facility agent.

The refinancing is the largest single secured facility for PEPR and is secured on a pan-European portfolio of 39 distribution centres, leased to international tenants. All centres are located in strategic distribution locations. The facility has been co-underwritten by a syndicate of the following financial institutions: Deutsche Pfandbriefbank (acting as facility and security agent), AXA, BAWAG P.S.K., Credit Foncier de France, ING Real Estate Finance and M&G Investments each acting as co-underwriter.

Harin Thaker, Head of Real Estate Business International at Deutsche Pfandbriefbank commented on behalf of the syndicate: 'We continue to demonstrate our strong support for Prologis and its European Funds, a core strategic relationship for us. The syndicate is particularly proud to have closed this transaction between six highly regarded financial institutions in one of the major pan-European transactions of 2009 arranged by Goldman Sachs.'