Dunas Capital Real Estate has successfully closed a c. €50m financing agreement with Cheyne Capital Management (UK) LLP (Cheyne Capital), to support the development of the PTL- Logistics Park in Noblejas, Spain.
Located 50km to the South of Madrid with a total area of 3,380,000m2, PTL-Noblejas is designed to create large-size land plots, suitable for large-format logistics and industrial platforms. The resulting plots will range between 30,000m2 and 500,000m2 in size, with the flexibility to adapt to tailor-made reallotments. The project has met all planning approvals and work is due to begin with immediate effect.
PTL-Noblejas stands on a strategic location in the Iberian Peninsula, being at the crossroads of four main highways, the A-4, the A-40, the AP-36 and the R-4. The centrality of the location, together with its proximity to the ports at Valencia and Algeciras, makes PTL-Noblejas an attractive site for Iberian distribution warehouses.
The Project is designed to comply with high ESG standards. The site itself will be one of a few BREEAM-certified logistics parks in Europe, which will allow tenants to achieve top environmental certifications. Additionally, PTL-Noblejas will be powered by a PV-solar energy plant, will use ecological materials for the construction of roads, including more than 340.000m2 of parks, 200,000m2 of plots destined for sports facilities and services, implement rainwater recycling technologies and will have electric vehicle charging stations.
Javier Quintela (Madrid) and Daniel Schuldes (London) of Cheyne Capital said: “Spain is a region in which we have been very active in recent years, and we continue to see a wealth of opportunities in the region. We are pleased to be expanding our presence through this development with Dunas Capital Real Estate, and look forward to seeing this project come to life.”
Rafael de Andres and David Angulo, principals at Dunas Capital concluded, “This is surely the most important transaction in the development of logistics land in Spain in 2023 and the loan provided by Cheyne Capital secures the placing on the market of a large amount of quality logistics surface in the next two years, which has great demand from operators and retailers”.