Sequoia Logistics 2025-1 DAC: 16 February 2025

The Issuer will make payments on the Notes and the Issuer Loan from payments of principal and interest received by the Issuer under loans advanced by the Loan Seller to the Borrowers pursuant to the Facilities Agreement. The Loans will be secured by a portfolio of logistics and industrial properties located in Germany, France, Finland and the Netherlands.

The Property Portfolio comprises 52 last mile logistics assets and 1 industrial outdoor storage asset situated in prime logistics submarkets throughout France, Finland, Germany, and the Netherlands. The Properties offer approximately total lettable area of 712k sqm of last mile logistics and 119k sqm of IOS. The Properties are let to 495 tenants with the standing portfolio being 86% leased and the IOS portfolio being 100% leased.

UK & EU Risk Retention: Barclays Bank PLC, as originator, will retain a material net economic interest of not less than 5% in the securitisation. As at the Closing Date, such retained material net economic interest will comprise not less than 5% of the nominal value of each of the tranches sold or transferred to investors in accordance with (i) Article 6(3)(a) of the EU Securitisation Regulation and (ii) Article 6(3)(a) of Chapter 2 of the PRA Securitisation Rules.

US Risk Retention: Barclays Bank PLC will act as the "retaining sponsor" and is expected to acquire, on the Closing Date, a "single vertical security" in the Issuer, with an aggregate balance of approximately €26,240,000 as of the Closing Date in the form of the Issuer Loan.

Compare/contrast: Thunder Logistics 2024-1 DAC, Frost CMBS 2021-1 DAC