Cain secures €414m refinancing for UK logistics portfolio from KKR

Cain has secured a £350 mln (€413.7 mln), five-year whole loan refinancing from KKR for its prime UK Industrial & Logistics portfolio. 

Logistics

This new facility fully repays the existing development loan and offers Cain greater flexibility for its leasing and portfolio management efforts. 
The portfolio consists of 24 units, totalling approximately 297,289 m2, in key UK logistics locations.
Developed to Grade A specifications starting in 2022, these facilities boast features like high eaves, spacious yards, optimised layouts, and excellent access to national road networks. All assets were delivered on a net-zero carbon basis with strong sustainability credentials, including BREEAM Excellent certifications. 
The portfolio has seen significant demand, with about 92,903 m2 of Grade A space leased in the past year.
Tim Brazier, senior VP at Cain, said: “This refinancing with KKR reflects the strength and quality of our logistics portfolio and the positive shift we are seeing across occupational markets. The transaction comes at a time when enquiry levels are increasing meaningfully in our key regions, particularly for highly specified and energy-efficient industrial space, which this portfolio delivers.”
Ali Imraan, head of European Real Estate Credit at KKR, added: "We are pleased to support Cain on the refinancing of this prime portfolio of well-located, high-quality industrial real estate assets.  This significant transaction reflects our confidence in the long-term fundamentals of the sector and our commitment to providing tailored financing solutions to leading sponsors."