has expanded its European senior loan portfolio with the provision of 鈧�161m to finance two portfolios in the Netherlands.
The real estate manager has provided a 鈧�56m for the acquisition and refinance of seven logistics assets and 鈧�105m to refinance the development of a private rented sector (PRS) portfolio owned by Foolen & Reijs Vastgoedgroep.
The PRS development loan is a co-investment between PGIM Real Estate and ABN Amro, who also arranged the loan.
Andrew Macland, head of European debt, said: 鈥淪enior debt lending in the UK and continental Europe continues to present attractive investment
opportunities for non-bank lenders, such as PGIM Real Estate, with long-term trends and dynamics on display across a number of geographies and sectors.
鈥淭hese deals are examples of our ability to identify interesting opportunities and continue to support sponsors even throughout the more challenging periods.鈥�
David Gingell, executive director for continental debt origination, said: 鈥淭hese loans represent our commitment to write business in markets with positive long term fundamentals, even when faced with short term uncertainty.
鈥淭he Netherlands is a resilient market and presents attractive opportunities as we continue to build exposure to logistics and PRS, encouraged by the increasing shift to online retail and continued undersupply of housing.鈥�
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