TPG Angelo Gordon and Blomfield Partners have secured a financing facility of up to £100m from Leumi UK to support the growth of the Concreit UK industrial outdoor storage (IOS) platform.
The platform focuses on acquiring and stabilising IOS sites across core UK logistics and multi-modal locations.
Concreit is currently progressing a pipeline of planned acquisitions while also selectively disposing 12 of its 35 UK sites over the last six months as part of a disciplined approach to portfolio management and capital recycling.
John Parsons, principal at TPG Angelo Gordon, said: “This transaction marks a significant step in scaling our platform and reflects growing institutional conviction around the IOS opportunity. The flexibility and specialist expertise of the team at Leumi UK was essential to bringing this deal to a successful close, and we look forward to continuing to work with them as we execute our ambitious growth plans.”
Gez O’Sullivan, relationship director at Leumi UK, added: “We are delighted to support TPG Angelo Gordon and Blomfield Partners as they continue to scale what is a high quality IOS platform in Concreit. This facility reflects our conviction in the long-term fundamentals of the sector, and demonstrates our ability to structure financing that flexes with the growth ambitions of a top-tier team. This transaction builds on the strong relationship we have developed with TPG Angelo Gordon and Blomfield Partners [over the past few years] and underlines our commitment to the UK industrial and logistics real estate market.”
BBS Capital acted as sole adviser on the transaction.
