Independent real estate asset management platform Dunas Capital Real Estate has successfully closed a €50 mln financing agreement with the global alternative asset manager, Cheyne Capital Management, to support the development of the PTL Logistics Park in Noblejas, Spain.
Located 50 km to the South of Madrid with a total area of 338 ha, PTL Noblejas will offer large size land plots, ranging between 30,000 m2 and 500,000 m2, suitable for large format logistics and industrial platforms.
The project has met all planning approvals and work is due to begin with immediate effect. The site stands at the crossroads of four main highways, the A-4, the A-40, the AP-36 and the R-4, and benefits from proximity to the ports at Valencia and Algeciras.
The site itself will be one of a few BREEAM certified logistics parks in Europe, which will allow tenants to achieve top environmental certifications.
Additionally, PTL-Noblejas will be powered by a PV-solar energy plant, will use ecological materials for the construction of roads, includes more than 34 hectares of parks, 200,000 m2 of plots destined for sport facilities and services, implements rainwater recycling technologies and will have electric vehicle charging stations.
Javier Quintela (Madrid) and Daniel Schuldes (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.'
