Hillwood Investment Properties has closed a £76.4 million development financing facility with Affinius Capital for two ground-up logistics developments in the UK totalling approximately 329,659 sq ft of modern warehouse space.
The facility is structured across sub-facilities supporting the two schemes, alongside dedicated finance, carry cost and earnout tranches.
In Luton, the facility funds the ground-up speculative development of a Grade A logistics scheme of approximately 286,000 sq ft, comprising eight units across five buildings, along the M1 corridor, one of the UK’s most established distribution markets, with direct access to Central London and the Midlands.
In East London, the facility supports the ground-up development of an approximately 43,659 sq ft last-mile warehouse in Canning Town, a freehold urban logistics site benefiting from strong occupier demand for well-located last-mile space.
Both developments are being delivered speculatively to institutional specification and are targeting BREEAM Excellent certification.
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Armin Senoner, director of debt markets at Hillwood Investment Properties, said: “We are delighted to be working with Affinius Capital on this financing. The UK remains a core market for Hillwood, and Luton and Canning Town reflect our strategy of pairing large-scale distribution with well-located urban last-mile logistics.
“This facility gives us the platform to deliver both schemes to a high institutional standard, and we look forward to progressing our wider UK pipeline in the months ahead.”
Calum Davidson, senior vice president at Affinius Capital, said: “Hillwood’s development expertise and the quality of these two well-located logistics schemes made this an attractive financing opportunity.
“We are pleased to support the delivery of modern, institutional-grade space in two of the UK’s most compelling logistics markets, and we look forward to working alongside the Hillwood team.”
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