Valor Real Estate Partners (Valor) and QuadReal Property Group (QuadReal) have secured £79 million investment financing from PGIM Real Estate for their recent £130m acquisition of a Tesco-let distribution centre in Purfleet, Essex.
The 630,000ft² distribution centre, situated within Dolphin Park, supports approximately 550 stores across London and the south-east.
Operating 24/7, the facility handles significant distribution volumes with 800 truck movements per day. The asset provides connectivity to the M25, A13, and major ports at Tilbury and London Gateway.
Senior portfolio manager for European core debt, PGIM James Mathias said: “The recovery in European real estate is underway, supporting conditions for the growth of income-focused debt investment.
“We remain confident in the outlook for the London Gateway with demand for UK logistics that remains robust in light of the long-term structural tailwinds of ecommerce and emerging industries like green energy supporting leasing activity.
“We are excited to partner once again with a trusted partner in Valor and QuadReal and continue our long-standing relationship.”
