HighBrook Investors, a real estate private equity firm focusing on growth markets in the US and Europe, has successfully completed a EUR 212 million refinancing for a portfolio of 23 logistics properties in the Netherlands. The financing was arranged with long-standing partner Morgan Stanley and secures the capital base for the assets, which are jointly owned by HighBrook and Neuberger Berman. Neuberger Berman acquired a minority stake in the portfolio at the end of 2025.
The agreement is structured for a five-year term and includes a specific tranche for capital expenditure (Capex). These funds are explicitly designated to support ongoing value-enhancing measures for the portfolio, underscoring a strategic focus on the further development of the assets. The management and operational control of the portfolio remain with CityLink, HighBrook's European platform specialising in 'last mile' logistics properties.
Strategic Partnership and Capital Provision
This transaction is considered a relevant milestone in the ongoing cooperation between HighBrook and Morgan Stanley. Morgan Stanley has previously provided financing totalling approximately EUR 1.2 billion for various European investment strategies and vehicles of the company. The refinancing was preceded by a targeted selection process for suitable lenders, which was managed internally by HighBrook to ensure optimal conditions for the portfolio.
Robert Giusti, Partner and Head of Europe at HighBrook Investors, commented on the successful refinancing. He emphasised the importance of continued collaboration with Morgan Stanley, which has supported the company across diverse funds, portfolios, and market cycles. Furthermore, he highlighted that the transaction not only secures attractive long-term financing for the portfolio but also provides additional capital for asset management initiatives. This underlines the intention to continuously optimise the quality and performance of the logistics properties.
Advisory Parties for the Transaction
HighBrook Investors was supported by several specialist advisory firms in conducting this significant refinancing. This expertise was crucial for the smooth execution of the complex financing structure and the legal and commercial safeguarding of the transaction. The advice was provided by a team of experienced professionals.
- —BCLP
- —Loyens & Loeff
- —Savills
- —Hofstede
