M&G lends £200 million to PineBridge Benson Elliot and Metrobox

M&G’s Real Estate Finance team has lent £200 million against prime retail warehouses and logistics properties.
 
The fund manager provided a £50 million construction loan, reflecting 72.5% loan-to-value, to PineBridge Benson Elliot for the ongoing development of two prime logistics assets in Woodford and Enfield, north London. Both sites have received planning consent for seven warehouse units, which will target strong environmental credentials to deliver 175,000 square feet of prime speculative space with practical completion expected within 18 months.