London, October 2024 – Sunrise Real Estate (“Sunrise”), the pan-European investor, developer and asset manager of high-quality logistics properties, and Ares Management (“Ares”) have secured a refinancing for their impressive European logistics portfolio, which is valued at a level approaching €1.5bn.

Apollo Global Management and Blackstone are jointly providing an €800m loan secured against the portfolio, which comprises 33 assets totalling 1.2m sqm (12.9m sq. ft.) across the UK, France, Germany, Netherlands, Spain and Poland. The five-year loan sits at a loan-to-value in the region of 55%.

Richard Hollingsworth, Chief Financial Officer at Sunrise Real Estate, said:

“We began building our European logistics portfolio with Ares in 2020, and we are now very pleased to have secured a refinancing, in a deal that reflects the current confidence in the market, for the right logistics assets in the right location.”