DENVER (AP) — ProLogis, a real estate trust that specializes in distribution facilities, said Thursday that it completed two financings to pay down debt held by its European Properties Fund II.
The first was an interest-only loan for $174.3 million that was secured by 11 distribution facilities in the United Kingdom. The deal was with Lloyds TSB, a new lender for ProLogis.
The second is an interest-only loan for $47.4 million from Helaba, a German lender the company first dealt with last year. It is backed by six facilities in Slovakia.
In afternoon trading, ProLogis shares rose 8 cents to $11.24.