European logistics property developer Panattoni has closed a £625 million (€743 million) development loan facility, which will support its strategic growth in the UK. The facility will enable Panattoni to put into production a new wave of speculative warehousing, where it is targeting areas of undersupply.
In 2024, Panattoni acquired several new sites, adding a further 2 million square feet of industrial space to its current speculative-build programme of 3 million ft2.
The facility was arranged by JP Morgan with a syndicate of lenders and is extendable for up to five years.
Source: PropertyEU 19 Sep 2024