Dunas Capital Real Estate has secured a €50m loan from Cheyne Capital Management UK to develop a logistics park in Spain.

Dunas said the financing will support the development of the PTL- Logistics Park in Noblejas.

The Cheyne Capital loan will support the completion of the first phase of the development, which will generate 716,000sqm of logistics plots within two years.

In a joint statement, Javier Quintela in Madrid and Daniel Schuldes in London of Cheyne Capital said: “Spain is a region in which we have been very active in recent years, and we continue to see a wealth of opportunities in the region.

“We are pleased to be expanding our presence through this development with Dunas Capital Real Estate and look forward to seeing this project come to life.”

Rafael de Andrés and David Angulo, principals at Dunas Capital, said: “This is surely the most important transaction in the development of logistics land in Spain in 2023 and the loan provided by Cheyne Capital secures the placing on the market of a large amount of quality logistics surface in the next two years, which has great demand from operators and retailers.”

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