Tungsten Properties signs €298m JV funding agreement with BC Partners
Tungsten Properties has signed a joint venture funding agreement with BC Partners, which will provide access to leveraged capital to fund development opportunity acquisitions.
The newly formed joint venture company will invest up to £250 million (€298 million/$304 million) to target single and multi-let industrial opportunities across the United Kingdom, which will range from last-mile to big-box logistics warehouses with a GDV of greater than £25 million (€30 million/$30 million). Tungsten Properties will act as asset and development manager for the joint venture.
Laurian Douin, partner, BC Partners, said, “The U.K. industrial and warehouse sector has strong secular fundamentals. Given Tungsten’s strong track record and like-minded approach to development, we are thrilled to partner with them to jointly invest in this asset class. The joint venture intends to deliver well-located, exceptional schemes to meet occupier demand, with a particular focus on scheme