Newmark Group, Inc. arranged a £153-million (approximately US$205 million) loan to refinance a portfolio of four prime UK logistics assets on behalf of Brookfield and Copley Point Capital. Terms of the loan weren’t disclosed.
Matthew Featherstone, head of UK & European Debt & Structured Finance, managing director Steve Williamson and VP Matthew Kang arranged the financing. Blackstone Real Estate Debt Strategies provided the funding.
Brookfield and Copley Point Capital assembled the 1.6-million-square-foot portfolio during the dislocated capital market conditions in 2023. Located across the North West, East Midlands and London regions, the portfolio consists of four institutional-spec, highly reversionary warehouses on long-term leases to a diversified roster of entrenched tenants, according to Newmark.
The most recent of the acquisitions was a deal for three distribution warehouses located adjacent to the Northern runway at London Heathrow Airport, which Brookfield and Copley Point announced in late October 2023. More recently, Copley Point formed a logistics real estate joint venture with UK-based Sixth Street.
The post Brookfield, Copley Point Recapitalize UK Logistics Portfolio appeared first on Connect CRE.
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