European real estate fund manager Redevco has provided a €49.2m loan facility to ID Logistics Group’s development to finance a logistics scheme in Tiel, the Netherlands.
Redevco has backed Financière ID with the green loan facility to help fund the 52,815sqm logistics scheme, which is over 70% pre-let to ID Logistics.
Richard Craddock, Redevco’s head of real estate debt, said: “This transaction reflects the core focus of our debt strategy – supporting best-in-class real estate projects alongside experienced sponsors in sectors and markets where we have strong conviction.
“We are pleased to partner with Financière ID on a development that combines compelling logistics fundamentals with innovative sustainability solutions, and helps to address the growing demand for modern, future-ready logistics space in the Netherlands.”
Christophe Hamon, Financière ID’s managing director, said: “The development combines strong logistics fundamentals with an innovative approach to energy management and sustainability.
“We were looking for a financing partner that recognised the long-term value of those characteristics and shared our vision for delivering future-ready logistics space. Redevco was a natural fit for that ambition.”
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