QuadReal Property has provided a £25.5m (€29.2m) debt facility to Fiera Real Estate and Harleyford Capital to fund the development of a 180,000sqft logistics asset in the UK.
The debt facility will finance the logistics space at Watford Works, London, a project expected to be completed in the fourth quarter of 2026.
Chris Button, head of investment management at Fiera Real Estate, said: “We’re delighted to have partnered with QuadReal to deliver this exciting urban industrial and logistics scheme just in time for Santa’s Christmas deliveries for 2026.”
Thomas Mallindine, managing director, Harleyford Capital, said: “Harleyford Capital is pleased to partner with QuadReal on Watford Works which is already generating significant occupier interest, highlighting the project’s strong market appeal.”
Dereck Richter, VP, real estate debt at QuadReal, said: “This financing is directly aligned with QuadReal’s global investment strategy and core conviction in the logistics space. We are thrilled to be a part of this development project alongside Fiera and Harleyford Capital.”
Andrew Antoniades, head of lending, CBRE Lending, said: “We’re pleased to have supported QuadReal with this financing, which will enable the development of logistics space at Watford Works.
“Our platform has a wide range of lending programmes, that we either manage or support others with, and development finance is particularly important to us, which can be seen through this debt facility.”
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