A fund managed by Oxenwood Real Estate has secured a £63m (€73.6m) debt facility from Blackstone Real Estate Debt Strategies to finance two UK logistics developments.

Oxenwood said its Oxenwood Logistics Fund 1 fund has secured the three-year development loan to develop the 426,000sqft Power Park in Nottingham and the 2.2-acre last-mile logistics facility site on the A13 in Barking, east London.

Both assets are expected to be completed next year.

Tom Boardman, CFO of Oxenwood Real Estate, said: “This development finance will enable our fund to deliver high-quality logistics space in the supply-constrained London and Midlands markets.

“We are delighted to be working with Blackstone and we hope this will be the first of many opportunities as we continue to build out our development pipeline.”

Oxenwood was advised by Knight Frank Capital Advisory, Jones Day and AKD.

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