Oxenwood gains Blackstone debt funding for spec schemes

Oxenwood Real Estate’s Logistics Fund 1 has secured a £63m development loan from Blackstone Real Estate Debt Strategies to fund two speculative developments, in Nottingham and East London. The three-year debt facility will fund the 28-acre Power Park in Nottingham, where the site used to be an Imperial Tobacco factory. Oxenwood has partnered with Henry Boot Developments on the scheme. It will provide six logistics facilities totalling 426,464 sq ft. The loan will also finance the speculative development of a 56,263 sq ft urban logistics facility in Barking, East London, alongside development manager Graftongate. Simon Mathews, associate at Knight Frank Capital Advisory, which advised Oxenwood on the scheme, said it was a “competitive” development financing that will “enable the rapid delivery of modern logistics space in the supply-constrained Midlands and London markets”. Mathews added: “The facility also provides the flexibility for Oxenwood to bring forward other opportunities and continue to expand its development pipeline.” To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews