Natixis provides $51.5 million Financing for the Class-A, FedEx Logistics headquarters office building in Memphis

Rhea-AI Summary

Natixis has provided $51.5 million in floating-rate financing to SomeraRoad Inc. for refinancing a 193,836 square foot Class-A office building at 145 Lt. George W Lee Avenue, Memphis. This office serves as the new global headquarters for FedEx Logistics, a division of FedEx Corporation (NYSE: FDX). SomeraRoad has made over $1.5 billion in acquisitions and currently holds $600 million of equity across 18 million square feet of commercial real estate.

Positive

• Natixis provided financing of $51.5 million to support FedEx Logistics' new headquarters, potentially enhancing its operational capabilities.
• Refinancing aids SomeraRoad's strategic growth as a commercial real estate developer with significant assets.

Negative

• None.

NEW YORK, Aug. 12, 2021 /PRNewswire/ -- Natixis announced today that it has provided floating-rate financing of $51.5 million to subsidiaries of SomeraRoad Inc. for the refinancing of a 193,836 square foot, Class-A office building located at 145 Lt. George W Lee Avenue in Downtown Memphis, and the parking lot across the street near the FedEx Forum. The office building serves as the new global headquarters for FedEx Logistics, the supply chain and trade arm of FedEx Corporation (NYSE: FDX).

SomeraRoad Inc. is a commercial real estate investment and development firm with over $1.5 billion in total acquisitions $600 million of invested equity in 18 million square feet of commercial real estate space, across 71 total transactions in over 50 unique markets.

About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d'Epargne, Natixis counts over 16,000 employees across 36 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE's networks. Natixis has a solid financial base with a CET1 capital under Basel 3⁽¹⁾ of €12.4 billion, a Basel 3 CET1 Ratio⁽¹⁾ of 11.5% and quality long-term ratings (Standard & Poor's: A / Moody's: A1 / Fitch Ratings: A+). 
⁽¹⁾ Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in.
Figures as at 30 June 2021

Press contacts:
Meredith Zaritheny
Prosek Partners
+1 646.503.6278
mzaritheny@prosek.com 

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SOURCE Natixis

FAQ

What is the amount of financing provided by Natixis for FedEx Logistics headquarters?

Natixis provided $51.5 million in financing.

Where is FedEx Logistics' new global headquarters located?

The new headquarters is located at 145 Lt. George W Lee Avenue, Downtown Memphis.

What is the significance of the financing provided by Natixis?

The financing supports the refinancing of a Class-A office building for FedEx Logistics, enhancing operational capabilities.

What is the stock symbol for FedEx Corporation?

The stock symbol for FedEx Corporation is FDX.