Barclays Bank has provided a £14.8m loan to Tritax Big Box REIT to fund the development of a logistics centre near Bognor Regis, West Sussex, prelet to Rolls-Royce.
The five-year facility reflects a loan to value of 39.5%. It will start as a development term loan and convert into an investment term loan at the project’s completion, due in spring 2016. he blended margin across Tritax’s financings post completion will be x1.765 above three-month LIBOR.
