Dunas Capital Real Estate (DCRE), the independent real estate asset management platform of the Dunas Capital Group, has secured a €31 million financing agreement with Cheyne Capital, a global alternative investment manager. The financing will support the development of a state-of-the-art logistics complex at the Antequera Dry Port (Málaga), which has been fully leased to Ontime. The transaction represents one of the most significant investments in the Andalusian logistics market in recent years and reinforces DCRE's commitment to developing specialised logistics infrastructure.
The facility, to be built on a 63,000-square-metre plot within the Antequera Dry Port, will comprise 36,000 square metres of gross leasable area and will incorporate tri-temperature cold storage technology. More than 20,000 square metres will be equipped for temperature-controlled storage, accommodating both positive and negative temperature ranges, making the facility one of the most advanced cold chain logistics platforms in Spain. The project has been designed in accordance with sustainable construction standards, featuring energy-efficient infrastructure and green energy generation systems specifically intended to power next-generation refrigeration equipment.
The development is located within the Antequera Dry Port, one of the most ambitious logistics infrastructure projects in southern Europe, managed by the French business group GROUPE IDEC. Covering more than 330 hectares, the site forms part of the Andalusian Logistics Network and provides direct access to both the Mediterranean and Atlantic rail corridors, as well as to the region's principal road networks, seaports and airports.
A Financing Transaction Advised by Dunas Capital Debt
The €31 million financing was advised by Dunas Capital Debt, the Dunas Capital Group's division specialising in alternative financing advisory services. The team acts as a bridge between developers and institutional investors in complex real estate debt transactions, adding value through the structuring, negotiation and execution of bespoke financing solutions.
The asset financed by Cheyne Capital now forms part of Dunas Capital Real Estate's logistics portfolio, which currently manages more than 4.5 million square metres of net industrial land across Spain, together with an operational logistics portfolio exceeding 255,000 square metres, with assets located in Noblejas (Toledo), Chiloeches (Guadalajara), Loriguilla (Valencia), Castellbisbal (Barcelona) and Antequera (Málaga). The Antequera warehouse further strengthens the company's commitment to the Andalusian market and to specialised logistics assets.
Miguel López Puche, CEO of Dunas Capital Real Estate, said: "Given its scale and technological features, this project consolidates our leadership in the cold chain logistics development market. At Dunas Capital Real Estate, we have built deep expertise in cutting-edge technologies and energy-efficient refrigeration. This project reaffirms our commitment to sustainable innovation while helping raise the standards of tomorrow's supply chain."
José María Sagardoy, CEO of Dunas Capital Debt, added: "This project in Antequera is another success story that further strengthens the track record of our structured real estate debt advisory business. At Dunas Capital Debt, we have consistently demonstrated our ability to design and structure tailor-made financing solutions for the development sector, establishing ourselves as the strategic partner of choice for highly complex transactions."
Javier Quintela, Head of Iberia at Cheyne Capital Real Estate, commented: "The Antequera Dry Port represents exactly the type of logistics infrastructure in which Cheyne Capital seeks to invest: strategically located, technically differentiated and operated by an experienced logistics company such as Ontime. This transaction reflects our confidence in Dunas Capital, our conviction in the long-term potential of the Iberian logistics market, and our ability to support large-scale projects with bespoke financing solutions."
About Dunas Capital Real Estate
Dunas Capital Real Estate (DCRE) is the real estate asset management division of the Dunas Capital Group. With a presence across the main Iberian markets, it operates throughout the entire real estate value chain, with a particular focus on the logistics and industrial sectors. DCRE combines expertise in development, asset management and financial structuring to provide investors with integrated solutions in the alternative real estate market. The division is supported by Dunas Capital Debt, its financial advisory unit, which acted as financial adviser on this transaction, ensuring effective coordination between the developer and the institutional lending partner.
About Dunas Capital Group
Dunas Capital Group is one of Spain's leading independent asset management platforms, specialising in traditional, real estate and alternative investments, with more than €5.3 billion in assets under management. The Group offers investment solutions through products characterised by a high degree of innovation and excellence. Its team comprises more than 70 professionals with extensive experience across the financial markets, banking, insurance, private equity and asset management sectors.
About Cheyne Capital
Founded in 2000, Cheyne Capital is one of Europe's leading alternative investment managers and is headquartered in London. The firm invests across the capital structure, from senior debt to corporate equity and real estate. Real estate investments account for approximately half of the firm's US$15 billion in assets under management and include direct real estate lending, European securitised real estate debt and selected special situations, including impact investing in affordable and specialist housing.
Cheyne Capital Management (U.K.) LLP is authorised and regulated in the United Kingdom by the Financial Conduct Authority (FCA) and is registered with the U.S. Securities and Exchange Commission (SEC) as an investment adviser. Cheyne Capital SMC Limited is an alternative investment fund manager authorised by the Central Bank of Ireland under the European Union (Alternative Investment Fund Managers) Regulations 2013.
Cheyne is a signatory to the United Nations-supported Principles for Responsible Investment (PRI), a member of the Alternative Investment Management Association (AIMA), a founding member of the Alternative Credit Council (ACC), and an early signatory to the Standards Board for Alternative Investments (SBAI).
cloud technology axon
During the session, the company presented details of its investment po...
