Dunas Capital Real Estate has secured a loan of more than €45m from Cheyne Capital for the development of the Chiloeches logistics project near Madrid, in Spain.
The 49,000sqm pre-let project, located in the Corredor de Henares, which began this summer, is expected to complete in the third quarter of 2025.
Miguel López Puche, head of Dunas Capital Real Estate, said: “The cold storage and distribution industry has robust fundamentals and is currently very attractive to investors. This financing agreement is a key driver for the continued growth of our real estate business.”
Daniel Schuldes in London and Javier Quintela in Madrid, both from Cheyne Capital, said: “We are pleased to expand our partnership with Dunas Capital Real Estate to support the development of the Chiloeches project.
“This is our second financing transaction with Dunas Capital Real Estate, who have proven to be reliable and ambitious partners, following a very positive experience with PTL-Noblejas.
“Significant achievements have already been made with this project, including securing a pre-let of the full area of the logistics warehouse on a long-term contract to one of the leading logistics operators in the sector, as well as achieving the highest quality standards in terms of sustainable construction.”
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