Prudential, MetLife Lend $177M To Prologis Venture

Law360, New York (December 21, 2011, 6:12 PM EST) -- Prudential Financial Inc.’s commercial mortgage arm and Metropolitan Life Insurance Co. together kicked in $177 million of financing for a breakthrough co-investment venture between industrial real estate developer Prologis Inc. and Mexican pension funds, Prudential announced Wednesday.

Prudential Mortgage Capital Co. and MetLife Real Estate Investments each provided $88.5 million in mortgage financing to Prologis Mexico Fondo Logistico, a watershed fund that Prologis designed for Mexican pension investment and stocked with a $293 million industrial real estate portfolio, Prudential said.

“What made this an attractive transaction...
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