German lender Westdeutsche ImmobilienBank (WestImmo) has agreed to support the roll out of Europa Capital and M7's Light Industrial Property Partnership (Lipp). WestImmo has initially provided funding for Lipp's first acquisitions of four industrial estates in Milton Keynes, Didcot, Basildon and Tewkesbury, for about £20 mln (EUR 22 mln).
German lender Westdeutsche ImmobilienBank (WestImmo) has agreed to support the roll out of Europa Capital and M7's Light Industrial Property Partnership (Lipp). WestImmo has initially provided funding for Lipp's first acquisitions of four industrial estates in Milton Keynes, Didcot, Basildon and Tewkesbury, for about £20 mln (EUR 22 mln).
Lipp is expected to grow to about £130 mln as several additional assets are already under offer.
Madeleine Forrest, director at WestImmo commented: 'Lipp not only had a very clear sector strategy but also best in class management, experience and track record. WestImmo is very pleased to provide support to Europa and M7's partnership by matching our expertise in property finance with their understanding of the fundamentals of the sector.'
