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05 May 2021

M&G provides £60 million loan to Swedish property company Logistri Fastighets AB

2021
London, 5 May 2021 – M&G today announces its first real estate loan in Sweden through its provision of SEK 700,000,000 (circa. £60 million) to Logistri Fastighets AB, a specialist real estate company listed on the Spotlight stock market, Stockholm.

Logistri Fastighets AB owns, develops and manages commercial warehouse and light industrial properties, with a portfolio comprising 17 properties in Stockholm, Gothenburg and southern Sweden which are strategically positioned by major roads and ports. The loan is over five years and its flexible design allows extensions to the credit facility with M&G’s consent, enabling the company to continue its growth through add-on acquisitions.

M&G’s 17-strong Real Estate Finance team originate deals and deploy capital in commercial mortgages in the UK, Europe and the USA on behalf of around 100 global institutional investors. The team, part of M&G’s £67 billion Private & Alternative Assets division, is one of the largest new lenders to emerge since the global financial crisis and carefully deployed over €1 billion into the Continental European market over the past two years.

Ulf Attebrant, Chief Executive Officer, Logistri Fastighets AB, says: "We are very pleased with the solution we have negotiated together with M&G. The company now has a constructive partner for the continued development of Logistri into a leading real estate company specializing in industrial properties. We are now continuing according to our strategy and intend to grow significantly in the coming years. Long leases in regional cities with well-managed and strong companies as tenants and interesting metropolitan locations with rental potential create a good prerequisite for stable cash flows and value development."

Adam Willis, Investment Director in Real Estate Finance, M&G Investments, says: “We’re pleased to have agreed a partnership with Logistri, marking our first real estate loan in Sweden. Logistri’s portfolio of long-leased industrial assets provides a resilient and stable income stream for our investors, and the flexibility we have provided will allow Logistri to continue with their plans for further acquisitions of high quality assets.”

Jakob Dahlstedt, Founding Partner, TEAL Capital, says: “We are delighted to act as local partner for M&G in relation to a Nordic lending strategy and with Logistri to have successfully completed a Swedish loan facility to a high quality borrower. We look forward to working with M&G and Logistri in the years ahead.”

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Notes to editors

Open1.
Size of Private & Alternative Assets team as at 31 December 2020.
M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has £367 billion of assets under management (as at 31 December 2020). M&G plc has over 5 million customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme.

M&G plc has committed to achieve net zero carbon emissions on its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.

TEAL Capital was founded in 2020 to facilitate Nordic market entry for leading pan-European direct real estate lenders, including institutional pension and credit funds. As local partner we offer our debt partners deal sourcing capabilities, extensive market knowledge and on-the-ground process management. TEAL Capital acts as local partner to M&G in relation to a defined Nordic senior secured loan strategy.

For more information regarding TEAL Capital AB, please visit www.tealcapital.se

Logistri Fastighets AB (publ) is a specialized real estate company which owns, develops and manages commercial properties with a focus on warehouse and light industrial properties in Sweden. The property portfolio comprises 17 properties in Stockholm, Gothenburg and southern Sweden in attractive locations for tenants' operations and with direct proximity to Sweden's largest roads and ports. The total lettable area is approximately 171,000 m2. The market value of the company's property portfolio amounts to SEK 1,410,300 thousand as of 2020-12-31.

For more information regarding Logistri Fastighets AB, please visit www.logistri.se
This information is intended for journalists and media professionals only. It should not be relied on by private investors or advisers. Please note that not all of the funds referenced in this press release will be available in your jurisdiction.

Issued by M&G Securities Limited which is authorised and regulated by the Financial Conduct Authority and provides investment products. The company’s registered office is 10 Fenchurch Avenue, London EC3M 5AG. Registered in England and Wales. Registered number 90776.
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M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.

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M&G plc, incorporated and registered in England and Wales. Registered office: 10 Fenchurch Avenue, London EC3M 5AG. Registered number 11444019. M&G plc is a holding company, some of whose subsidiaries are authorised and regulated, as applicable, by the Prudential Regulation Authority and the Financial Conduct Authority.

M&G plc is a company incorporated and with its principal place of business in England, and its affiliated companies constitute a leading savings and investments business. M&G plc is the direct parent company of The Prudential Assurance Company Limited. The Prudential Assurance Company Limited is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in England and Wales.