US-based logistics company6 Prologis announced this week that it has closed on a $137.5 mln (EUR 102 mln), five-year, secured financing with a major life insurance company on behalf of its Prologis California Fund. The financing has a loan-to-value of approximately 50% with 21 industrial properties located in the LA Basin and Inland Empire as security. The proceeds were used to wholly refinance a $137 mln secured loan that was set to mature on August 1, 2009.
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