Leicester warehouse specialist launches £250m JV

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Leicester-headquartered warehouse developer Tungsten Properties has launched a £250m joint venture with global investment firm BC Partners.

The partnership will target single and multi-let industrial opportunities across the UK including logistics warehouses with a GDV of more than £25m.

Tungsten, which will act as asset and development manager, says it has already identified a strong pipeline of potential acquisitions to seed the partnership.

The firm will continue to acquire development opportunities of less than £25m through its existing revolving credit facility.

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Jeff Penman, managing director at Tungsten Properties, said: “This is a significant step in Tungsten’s expansion strategy to continue to deliver industrial and warehouse space to create growth, jobs and investor returns. This transformational JV agreement with BC Partners

 link source - The Business Desk

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