The Grade A logistics portfolio comprises seven UK sites, totalling 3.25 million square feet across 22 assets, including two newly built developments, and five consented land sites that are on course for completion in 2022 and H1 2023.
The acquisition represents Cain’s entry into the UK logistics market. As part of the transaction, Firethorn Trust will develop the remaining sites and act as leasing and asset manager across the portfolio on behalf of Cain International.
Completion of the transaction is scheduled to take place late Q1 2022.
Stephenson Harwood, PwC, Eastdil Secured and Quartz acted on behalf of Firethorn Trust.
Taylor Wessing, KPMG, Cushman & Wakefield and Paragon acted on behalf of Cain International.
Since formation in 2018, Firethorn has acquired 190 acres across 7 sites and is delivering over 3.25million square feet of logistics warehousing accommodation in Northampton, Leighton Buzzard, Ellesmere Port, Peterborough, Leeds, Barnsley and Belvedere, South East London.
Cain International is a privately held investment firm operating in the United Kingdom, Europe and the United States. Founded in 2014, the firm invests in real estate debt, equity, and experiential businesses, and currently manages USD10.8 billion in assets (as of 31 Dec. 2021).
Source: cainint.com on the 2nd of March
https://cainint.com/media-centre/press-releases/cain-international-enters-uk-logistics-market-with-550-million-logistics-portfolio-acquisition-from-firethorn-trust/