Taylor Wessing advised Canada Life Asset Management on the matter.
Canada Life Asset Management provided a £101.15 million loan to PATRIZIA AG, a leading partner for global real assets, for a fund it manages on behalf of a South Korean pension fund.
The five-year loan is secured on a portfolio of five UK multi-let industrial and logistics estates with a loan-to-value ratio of 58%. The highly diversified portfolio, totalling 1.5 million square feet, is located across five different regions of the UK and has over 70 tenants. The properties include established estates in Birmingham, Feltham, Aylesford and Fife, as well as a new-build asset in Braintree, Essex.
The Taylor Wessing’s team was led by Real Estate Partner Emma Oakley (Picture) and Banking & Finance Partner Edward Manser, with support from Senior Associates Elisabeth Heide, Rhys Bufton, and Alice Thomas, and Associates Olivia Briggs and Francesca Gibbs.
Involved fees earner: Olivia Briggs – Taylor Wessing; Rhys Bufton – Taylor Wessing; Elisabeth Heide – Taylor Wessing; Edward Manser – Taylor Wessing; Emma Oakley – Taylor Wessing; Alice Thomas – Taylor Wessing;
Law Firms: Taylor Wessing;
Clients: Canada Life;