Harleyford Capital, Fiera Real Estate announce €94m urban logistics deal

Harleyford Capital has announced their first urban logistics development site transaction, exchanging unconditional contracts on an 8.5-acre development site in Watford, London, funded in joint venture with Fiera Real Estate, an affiliate of the $115 billion (AUM) global investment manager Fiera Capital.

Harleyford Capital and Fiera will seek to obtain planning permission and speculatively deliver an £80 million ($102 million) GDV urban logistics scheme, providing 180,000 square feet of institutional class A space across 13 units, with Harleyford Capital being responsible for delivery of the project.

The deal, which was exchanged unconditionally and sourced off-market, is the seventh transaction for the Fiera Real Estate Logistics Development Fund (FRELD), which completed its second close in third quarter 2023 with more than £225 million ($285 million) of equity commitments. The fund’s strategy is to acquire development sites to deliver small- to mid-box, class-A l