Oxenwood Real Estate, the U.K. and European real estate investment management firm, has secured a £63 million (€74 million/$79 million) debt facility from Blackstone Real Estate Debt Strategies to fund two U.K. logistics developments.
The three-year development loan has been secured on behalf of Oxenwood Logistics Fund 1, a discretionary fund managed by Oxenwood.
The larger of the two developments is the 426,000-square-foot Power Park in Nottingham. The plan consists of six logistics units ranging from 30,000 square feet to 145,000 square feet. It is expected to complete in early 2023.
The second development is a last-mile logistics facility on a 2.2-acre site on the A13 in Barking, east London. It will be a 60,000-square-foot unit, which is expected to be completed in second quarter 2023.
