Dunas Capital Real Estate, the real estate asset management division of Grupo Dunas Capital, has successfully completed the refinancing of its logistics development in Noblejas (Toledo) for an amount of €48 million, in a transaction structured over the first operating asset of the complex.
The loan was provided by an investment fund advised by DRC Savills Investment Management LLP. The transaction was exclusively advised by CBRE’s Debt & Structured Finance division, to refinance a loan granted in 2024 by Cheyne Capital for the construction of a logistics development in Noblejas, Toledo.
The refinanced asset, a 51,400 m² logistics warehouse of gross lettable area (GLA), is the first warehouse inaugurated in the ambitious development that Dunas Capital Real Estate is carrying out in the Parque Tecnológico Lineal de Noblejas (Toledo), with more than 2,000,000 m² of surface area.
The building, which is leased long-term to a first-class tenant, offers a high degree of flexibility in its facilities for food storage. It includes a 25,000 m² dry storage chamber, three positive-cold chambers with a combined capacity of 10,725 m², and four bi-temperature chambers that add over 15,200 m² of flexible storage capacity for both positive and negative cold.
The original financing structure included two tranches: one aimed at the land acquisition, and another to finance the construction and development of this first warehouse.
Dunas Capital Real Estate, in line with its strategy of consolidation in the logistics sector, has led this transaction with the goal of reinforcing the project’s financial viability and maximizing its long-term value.
Jose Luis Rodríguez, CFO of Dunas Capital Real Estate, stated: “This refinancing represents a strategic milestone for Dunas Capital Real Estate, as it allows us to consolidate the project’s financial structure and move forward more solidly in the development of the Noblejas logistics complex. The trust placed by DRC Savills Investment Management and the advice from CBRE have been key to closing a transaction that strengthens our position in the market and allows us to continue betting on the development of high-quality assets in strategic locations.”
Graham Fasham, Head of Origination at DRC Savills Investment Management LLP, said: “We are very pleased to have completed this transaction with Dunas Capital Real Estate. They have shown great professionalism throughout the process, and we look forward to working with them again in the future. Funds advised by DRC SIM have closed several financings in Spain, and we expect to close more than €250 million in new loans for the commercial real estate sector in Spain this year, underlining our strong commitment to the local market.”
Nacho Meylán, Senior Director of Debt & Structured Finance at CBRE, commented: “The refinancing transaction ensures an optimized financial structure for the project and allows Dunas Capital Real Estate to strengthen its strategic position in the logistics sector with the development of top-level projects. This closing is an example of the specialization and sophistication required by the real estate debt market, with tailor-made financial solutions for each type of transaction.”
The transaction was legally advised by Bufete Barrilero y Asociados.
About Grupo Dunas Capital
Founded in 2016, Grupo Dunas Capital has established itself as a leading independent reference entity in Spain, with a notable track record and continuous growth since its inception of over 35% annually, reaching nearly €5 billion in assets under management.
Currently, Grupo Dunas Capital focuses its activity on three main business lines: investment fund and pension fund management, investment and management of real asset funds, and investment in logistics real estate assets.
Its professional team has extensive experience and previous careers in the banking, insurance, asset management, private equity, and infrastructure sectors.
About DRC SIM
DRC SIM is a leading commercial real estate debt investment platform that provides financing alternatives across the capital structure in the UK and Western Europe. DRC SIM was one of the first specialized investment advisors in the commercial real estate debt asset class, emerging after the reduction in bank lending that began in 2008. The firm has one of the largest teams in Europe dedicated exclusively to the commercial real estate sector and has originated more than 165 financings within its High Yield, Whole Loan, and Senior debt strategies. Headquartered in London, DRC SIM advises funds with capital provided by global institutional investors.
DRC Savills Investment Management LLP is a limited liability partnership registered in England under number OC371403 and is authorized and regulated by the UK Financial Conduct Authority.
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