Dunas Capital Real Estate has secured a €31m financing agreement with Cheyne Capital to progress the development of a 36,000sqm cold storage facility in Spain.
The real estate asset manager said the funding will back the construction of the state-of-the-art logistics complex at the Antequera Dry Port in Málaga, pre-let to logistics operator Ontime Logística Integral.
The facility will be built on a 63,000sqm lot within the Antequera Dry Port, which is managed by the French business group Groupe IDEC.
The latest €31m agreement for the Antequera Dry Port project expands a long-standing financing relationship between Dunas Capital Real Estate and Cheyne Capital. The partnership began in September 2023 with a €50m loan to develop the PTL Logistics Park in Noblejas, followed by a subsequent loan of more than €45m in September 2024 to fund a 49,000sqm pre-let logistics development in Chiloeches, near Madrid.
Miguel López Puche, CEO of Dunas Capital Real Estate, said: “Given its size and technological features, this project solidifies our leadership position in the cold-chain logistics real estate development market.
“At Dunas Capital Real Estate, we demonstrate deep expertise in cutting-edge technologies and energy-efficient refrigeration. We reaffirm our commitment to sustainable innovation, raising the standards of the supply chain for the future.”
Javier Quintela, head of Iberia at Cheyne Capital Real Estate, said: “The Antequera Dry Port represents exactly the type of logistics infrastructure in which Cheyne Capital wants to be involved – strategically located, technically distinctive and operated by an experienced operator like Ontime.
“This transaction reflects our confidence in Dunas Capital, our belief in the potential of the Iberian logistics market and our ability to support large-scale projects with tailored financing solutions.”
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