Mayfair Capital’s UK Thematic Growth Fund has secured a £32.5m (€36m) debt facility to invest in the logistics sector.
The specialist UK real estate investment manager said the closed-ended fund secured the five-year senior debt facility from Bank of Ireland to ”enhance the diversification” of the fund’s portfolio.
Established in January 2018 with co-investment from its parent company Swiss Life Group, the Mayfair Capital UK Thematic Growth Fund targets properties aligned to future occupational demand.
Giles King, manager of the Mayfair Capital UK Thematic Growth Fund, said: “Our UK Thematic Growth Fund aims to tap into the transformational changes shaping our society and our economy.
“This additional £32.5m facility will allow us to build further on our successful thematic strategy and capitalise on the clear opportunities presented by last mile delivery type logistics units.”
The UK logistics space continues to rapidly expand, and forecasts suggest it will continue to perform well over the medium to long term, albeit slower than the previous few years of spectacular growth, King said.
“This is creating demand from retailers and e-commerce occupiers for logistics warehousing capable of serving the growing consumer expectation of rapid online and in-store fulfilment and returns.”
Andrew Pendered, head of property finance group, GB for Bank of Ireland, said: “Mayfair Capital has an excellent reputation due to its proven track record and we are delighted to be able to support the business and its partners with this initial refinance.
“We very much look forward to building the relationship as Mayfair continues to grow the fund over the coming years.”