Real estate manager Feldberg Capital and HBD have closed Series I of Origin, their UK mid-box industrial and logistics real estate venture, with a development value of £156m (€178m). The partners said Series I attracted equity commitments from international institutional investors and family offices.
Feldberg Capital and Henry Boot launched the Origin platform last December, with Feldberg owning a 75% stake in the joint venture and HBD, Henry Boot’s property investment and development arm, owning the remaining 25%.
Origin Series I has already committed to the speculative development of three mid-box schemes in Welwyn Garden City, Walsall and Chesterfield, which alongside a fourth pipeline asset, totals over 700,000sqft and £156m worth of gross development value (GDV).
Feldberg and HBD said they are are targeting a £1bn GDV portfolio over the next three to five years.
David Turner, managing partner at Feldberg Capital, said: “The UK mid-box industrial and logistics sector continues to show highly attractive investment fundamentals, with positive tailwinds from the continued growth in e-commerce, onshoring of supply chains and the expanding defence sector, coupled with an acute shortage of grade-A space and a limited development pipeline.
“This will support Origin as we continue capital raising for Series II and seek new mid-box development opportunities across the UK.”
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