A trio of banks have extended £150m of debt to North East industrial specialist UK Land Estates Partnership.
Santander, Wells Fargo and HSBC are providing a term loan and a revolving credit facility. The facilities will allow the company to invest in new assets across the North East.
UK Land Estates Partnership is owned by Northwood Investors and the deal was in part brought about by its strong relationship with Wells Fargo in the US, where both parties are headquartered.
Northwood’s UK portfolio includes 90 Long Acre in Covent Garden, WC2 – the UK headquarters of Wells Fargo.
UK Land Estates was part of a £150m portfolio bought by Northwood in 2014 from Highcross.
The industrial investment specialist’s portfolio at the time included 35 assets across the North East, most of which were industrial business parks.
• To send feedback e-mail mike.cobb@estatesgazette.com or tweet @MikeCobbEG or @estatesgazette
