Private investment firm Cain International has agreed the renewal of a £50m revolving credit facility with industrial developer Tungsten Properties, for a further three years.
The agreement follows the successful deployment of an initial £36m facility in 2020. It was used to finance four schemes totalling 440,000 sq ft with a gross development value of around £61m.
The new facility will fund a number of logistics opportunities across the UK.
It forms part of Cain’s Fortwell strategy and focuses on development loans of £10m to £50m across residential, commercial, and alternative sectors in the UK.
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