Valor, QuadReal secure €210m revolving credit facility

Valor, QuadReal secure €210m revolving credit facility

Valor Real Estate Partners and QuadReal Property Group have secured a new dual tranche revolving credit line for their €1 billion last mile logistics joint venture, comprising a £100 million tranche and a €100 million tranche, with HSBC and CIBC.

Valor said the three year facility represents the latest and most significant milestone in the joint venture’s financing strategy. 

”The revolving credit line will provide considerable flexibility that will enable it to respond even more quickly to investment opportunities and to aggregate a portfolio of assets before refinancing with longer term debt,” said the company in a statement. 

In November last year Valor acquired a 144,000 sq ft industrial estate in Barking, East London, the first made on behalf of the Joint Venture. Valor currently manages an 80+ asset portfolio totalling six million sq ft that is benefitting from accelerating e-commerce growth and urbanisation.

 “Agreeing this sizeable facility is an important step following the launch of the QuadReal JV last year and will allow us to accelerate our investment programme. The timing has allowed us to take advantage of strong lender interest for exposure to the high growth urban logistics sector as well as the favorable interest rate environment,” said Matthew Phillips, Principal at Valor.