ANNOUNCED AS TEMPORARYNo
The European Investment Bank (EIB) approved EUR 115 million (approx. USD 131.4 million) in financing to the Spanish company MERLIN Properties SOCIMI, S.A. On 20 December 2018, a loan agreement between the EIB and MERLIN was signed having a total approximate value of EUR 51 million. The EIB financing will support the company's development of four new logistics parks in Spain.
According to the EIB: "The project will make it possible to meet the growing demand for space and logistics services driven by various factors including the growth of online retail."
Additionally, the EIB Vice-President Emma Navarro stated: "We are delighted to support a project that contributes to economic, social and territorial cohesion within the EU by developing modern and sustainable logistics facilities helping to meet the growing needs of the sector. This project will generate significant economic and social externalities, both via the boost it will provide to competitiveness and economic development in Castilla-La Mancha and through its major contribution to job creation."
MERLIN Properties SOCIMI, S.A. has its headquarters in Spain and operates in the real estate sector with a focus on office, retail and logistics.
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