Leumi UK provides c.£100 million financing facility to TPG Angelo Gordon and Blomfield Partners for UK Industrial Outdoor Storage platform

Real estate lender Leumi UK has provided a financing facility with capacity of up to £100 million to TPG Angelo Gordon and Blomfield Partners to support Concreit, its UK Industrial Outdoor Storage (IOS) platform. The transaction demonstrates Leumi UK’s commitment to building long-term relationships with its trusted partners, as this facility increases Leumi UK’s total exposure to the Concreit portfolio from nine properties to 21 assets in total.

Concreit focuses on acquiring and stabilising IOS sites across core UK logistics and multi-modal locations. The platform has been actively assembled and managed, progressing a pipeline of planned acquisitions whilst also selectively disposing 12 of its 35 UK sites over the last six months as part of a disciplined approach to portfolio management and capital recycling. 

TPG Angelo Gordon has also expanded its IOS activity into continental Europe. In the Netherlands, the firm is partnering with DCM Investment Group and has acquired four IOS sites to date, while in Germany, it has acquired its first IOS site and is entering the market with Blomfield Partners and other local operating partners. The firm is also targeting additional European markets with attractive IOS fundamentals as it continues to scale its footprint.

The UK IOS market, as a core logistics and intermodal transport hub in Europe, benefits from an acute supply-demand imbalance, limited capex requirements and attractive income characteristics. 

BBS Capital acted as sole adviser on the transaction. Blomfield Partners, founded by Matthew Quicksilver and Alex Telford, acts as operating partner for the UK strategy, leading on-the-ground execution.  

John Parsons, Principal at TPG Angelo Gordon, added: “This transaction marks a significant step in scaling our platform and reflects growing institutional conviction around the IOS opportunity. The flexibility and specialist expertise of the team at Leumi UK was essential to bringing this deal to a successful close, and we look forward to continuing to work with them as we execute our ambitious growth plans.”

Gez O'Sullivan, Relationship Director, Leumi UK, said: "We are delighted to support TPG Angelo Gordon and Blomfield Partners as they continue to scale what is a high-quality IOS platform in Concreit. This facility reflects our conviction in the long-term fundamentals of the sector, and demonstrates our ability to structure financing that flexes with the growth ambitions of a top-tier team. This transaction builds on the strong relationship we have developed with TPG Angelo Gordon and Blomfield Partners over the past few years and underlines our commitment to the UK industrial and logistics real estate market."