Fiera Real Estate Debt Strategies, an affiliate of Fiera Capital Corp., has provided a £36 million (€41.2 million/$48 million) senior development facility to a partnership between Chancerygate and specialist sustainable and impact investor Bridges Fund Management for the delivery of a new urban logistics and multi-let industrial (MLI) scheme in Erdington, Birmingham, England.
The project, named Torque, will transform a 12-acre former factory site into a class A development comprising 22 units across 270,000 square feet, with individual unit sizes ranging from 4,500 square feet to 33,000 square feet. Chancerygate and Bridges disposed of Torque as part of a 750,000-square-foot multi-asset sale to Indurent, a leading developer, owner and operator of industrial and logistics space across the United Kingdom.
Located less than five miles from Birmingham city center and within close proximity to Junction 5 of the M6, the site benefits from strong transport connectivity in
