Tuesday, August 16, 2022

Oxenwood secures £65 Million development loan from Blackstone

Oxenwood Real Estate, the UK and European real estate investment management firm, has secured a £63 million debt facility from Blackstone Real Estate Debt Strategies to fund two UK logistics developments.

The three-year development loan has been secured on behalf of Oxenwood Logistics Fund 1 SLP, a discretionary fund managed by Oxenwood.

The largest of the two developments is the 426,000 sq ft Power Park in Nottingham, which Oxenwood has agreed to forward fund for £53.8 million. Power Park is located on part of the former Imperial Tobacco plant and involves the development of six logistics units ranging from 30,000 sq ft to 145,000 sq ft. The development, which is being delivered by HBD, is expected to complete in early 2023.

The second development is a last-mile logistics facility on a 2.2-acre site on the A13 in Barking, east London. Oxenwood has entered into a development management agreement with Graftongate to obtain planning consent and construct a 60,000 sq ft unit, which is expected to be completed in the second quarter of 2023.

Tom Boardman, chief financial officer of Oxenwood, said: “This development finance will enable our fund to deliver high-quality logistics space in the supply-constrained London and Midlands markets.

“We are delighted to be working with Blackstone and we hope this will be the first of many opportunities as we continue to build out our development pipeline”.

Oxenwood was advised by Knight Frank Capital Advisory, Jones Day and AKD.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.