Heavyweight developers secure funding for multi-storey logistics facility
Nuveen has provided a $205 million senior loan for the delivery of a multi-storey logistics facility in Sydney’s west Rosehill (artist’s impression, top).
Hale, Warburg Pincus and Oxford Properties Group are the developers.
“Rosehill has one of the lowest industrial vacancy rates globally and is located on a strategic ‘last mile’ infill site immediately adjacent to the M4 motorway, three kilometres from Parramatta and 18 km from Sydney’s CBD,” a spokesperson for the lender said.
“On completion, the building will have a total net lettable area of 49,173 square metres,”they added.
Completion is scheduled in mid-2026.
“The loan is aligned to Nuveen’s Real Estate Debt strategy, which makes core loans and core plus loan investments to institutional borrowers with security over prime assets in preferred sectors,” Nuveen Real Estate head of Debt – Australia, Dugald Marr, said.
“By carefully managing debt sizing and loan covenants, the strategy seeks to provide principal protection for investors whilst pursuing attractive loan investment returns,” he added.
Also today we are reporting Hale bought a major business park in Brisbane’s Acacia Ridge from Dexus.
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