ProLogis refinances CEE loan

Renewed hope that international property lending could be loosening up has emerged recently, in part thanks to news that ProLogis has managed to gain a three year extension to a €126m loan backed by 24 Central European properties. Deutsche Pfandbrief, formerly known as the Hypo Real Estate, agreed to put off collection on the loan until 2013 under a deal that will see ProLogis European Properties pay 5.24 interest on the loan, with no payment of principle required. The initial LTV is 55 percent.

The company is also reported to have agreed a pair of €154m loans for ProLogis Europe Properties Fund II with an unnamed German bank the company has never worked with before.

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