A European mid-market lending partnership between Blackstone Real Estate Debt Strategies (BREDS) and Pluto Finance has entered the German market with €93m of lending across two transactions.
The financing consists of a €57m facility secured against three Berlin last-mile logistics assets, sponsored by Valor Real Estate Partners and QuadReal Property, and a €36m facility secured against an urban, grocery-anchored convenience retail centre in Hamburg.
Matthew Phillips, partner at Valor Real Estate Partners, said: “These are exceptionally well-located assets within a core European last-mile submarket supported by sustained occupier demand and strong fundamentals.