Feldberg Capital and HBD have closed series one of their Origin UK mid-box industrial and logistics joint venture at £156m GDV.
The funding round secured equity commitments from international institutional investors and family offices.
Origin was set up by Feldberg Capital and HBD – part of Henry Boot – in December last year, to develop next generation, energy efficient I&L assets in the mid-box market across the UK.
The joint venture has already committed to the speculative development of three mid-box schemes in Welwyn Garden City, Walsall and Chesterfield, which alongside a fourth pipeline asset, will provide more than 700,000 sq ft and a £156m GDV portfolio.
Feldberg and HBD are targeting a £1bn GDV portfolio over the next three to five years.
David Turner, managing partner at Feldberg Capital, said: “The UK mid-box I&L sector continues to show highly attractive investment fundamentals, with positive tailwinds from the continued growth in e-commerce, on-shoring of supply chains and the expanding defence sector, coupled with an acute shortage of Grade A space and a limited development pipeline. This will support Origin as we continue capital raising for series two and seek new mid-box development opportunities across the UK.”
