DekaBank has closed a £75m term loan facility secured against two recently acquired logistics warehouses. The loan is being made available to clients of Alberta Investment Management Corporation (“AIMCo”) whom acquired from a fund managed by AXA IM Alts. The units were recently developed by Baytree Logistics Properties.
Unit A is a 267,000 sq ft warehouse let to UPS for a term of five years with a break at year three. The building is rated as “BREEAM “Excellent” and was awarded “Building Project of the Year” in the Business Green Awards 2019.
Unit B is a 143,000 sq ft warehouse let to Amazon for a term of 15 years. The building is a build-to-suit Amazon “Delivery Station” to service the “last mile” of the delivery process, where packages received from fulfilment and sortation centres are loaded into vans which deliver directly to customers. Features include a multi-storey van deck with electric charging provision to store and charge Amazon’s fleet of delivery vehicles and a 6-lane canopied area accommodating 72 van loading bays.
The two properties sit on a combined site area of 33 acres and are located in a core South East location, strategically located just 40 miles north west of London and three miles west of the M1 motorway.
DekaBank commented: “This financing builds on our existing lending relationship between DekaBank and AIMCo and continues the bank’s positive start to 2022 completing its 4th secured lending loan within a month. It also highlights DekaBank’s commitment to financing logistic assets with ESG credentials”.
