Matthew Byrom, Managing Director at Panattoni remarks ”…this new £625m facility allows us to continue our ambitious growth plans for the UK and helps us support our partners in building best-in-class assets. We are keen to grow our pipeline of buy & build development and are seeing an unprecedented number of compelling opportunities in which we’d like to invest”.
Oliver Choppin, Finance Director at Panattoni commented “…our decision to pursue a flexible revolving credit facility provides us the ability to access capital quickly and allows us the agility to close on new investments without complication. We are appreciative of the support provided by the lending groups involved, particularly at this challenging time.”
The facility will further support Panattoni’s UK strategic capacity to put into production a new wave of speculative warehousing, where it is currently targeting areas of under supply. In 2024 Panattoni acquired several new sites, adding a further 2 million square feet of industrial space, which is in addition to its current spec-build program, where it is committed to the build out of 3 million sq. ft.
The new facility was arranged by JP Morgan with a syndicate of lenders, and is extendable for up to five years.
