Hansteen Holdings has received £42 mln (€50 mln) in joint funding from Royal Bank of Scotland and Barclays Bank to acquire industrial estates in Stoke-upon-Trent and Scotland.
Hansteen Holdings has received £42 mln (€50 mln) in joint funding from Royal Bank of Scotland and Barclays Bank to acquire industrial estates in Stoke-upon-Trent and Scotland.
The facility - split 50:50 between RBS Corporate & Institutional Banking and Barclays - has been lent to a specific vehicle, Hansteen UK Industrial Property II Ltd. The estates will be revamped and relaunched with the aim to attract new tenants, Hansteen said in a statement.
Hansteen is a real estate investment trust that invests predominantly in industrial properties across Germany, the Benelux countries, France and the UK. The firm’s portfolio comprises some 2.6 million m2 valued at over £1 bn.
Hansteen expanded its funding base last month with the debut issuance of a €100 mln convertible bond in a process led by RBS.
The £42 mln senior debt funding follows on from RBS' £40 mln financing in January.
