NW1 and URBZ announced this week that they have secured €130 mln financing for their Industrial Outdoor Storage (IOS) strategy to accelerate further growth.
The loan was secured from a major US insurance company, they added in a statement. It includes a day-1 facility of €30 mln with an accordion for an additional €100 mln to finance similar IOS properties in the pipeline.
NW1 partnered with URBZ Capital in 2023 to launch an Industrial Outdoor Storage (“IOS”) strategy in the Netherlands and has since aggregated a portfolio of 14 assets with a GAV over €100 mln. NW1 and URBZ are now capitalised to create a plug-and-play portfolio of IOS assets worth over €400 mln.
David Boyle, partner and co-founder at NW1 said: 'We continue to have high conviction in IOS and believe in the institutionalisation of the sector in Continental Europe, as it has in the US. To have closed a large financing facility with a major US insurance company in what we understand to be their first IOS lending in Europe reflects strongly on their conviction in the strategy as well as the NW1 and URBZ sponsorship.'
Ali Nassiri and Bram Verhoeven, managing partners and founders at URBZ added: 'With strong supply-demand dynamics and an active pipeline of deals, the Netherlands offers a very compelling opportunity to ‘institutionalise’ the IOS sector. Closing the financing illustrates how sophisticated institutional investors are looking to access this growing market. We are well capitalised to execute on our pipeline and as such we expect to see a further increase in activity in the coming period.'
NW1 Partners was founded in 2016 by industry veterans David Boyle and Brad Beanblossom, with strategic support from Delancey, a UK real estate investment management firm. NW1 has offices in London, Chicago and New York.
Established in 2020, URBZ is a real estate boutique specializing in the industrial property sector.
