Panattoni secures $772m loan facility for new U.K. development

Panattoni has closed a £625 million ($828 million) development loan facility, which will support its strategic growth in the United Kingdom.

The facility will enable Panattoni to put into production a new wave of speculative warehousing, where it is targeting areas of undersupply. In 2024, Panattoni acquired several new sites, adding 2 million square feet of industrial space to its speculative-build program of 3 million square feet.

The facility was arranged by JP Morgan with a syndicate of lenders and is extendable for as long as five years.

“This new £625 million [$828 million] facility allows us to continue our ambitious growth plans for the U.K. and to support our partners in building best-in-class assets. We are keen to grow our pipeline of buy and build development and we are seeing an unprecedented number of compelling opportunities in which we’d like to invest,” said Matthew Byrom, managing director at Panattoni.

Oliver Choppin, finance d