Fladgate represented Tritax on the launch of the Tritax Prime Distribution Income Fund, which raised c£20m in equity matched by a similar amount of debt provided by Barclays Bank plc.
The fund acquired a 750,000 sq. ft. big box distribution unit let to a 5A1 Dun and Bradstreet rated tenant. This tax efficient investment is projected to yield up to a projected gross equivalent IRR of 18.55%.
Henry Franklin, partner in Tritax said “This is the latest in a series of fund launches we are pleased to have completed with the funds team at Fladgate”.
The team was led by funds partner Ella Leonard, real estate finance partner Gary Smith and property senior associate Nick Mumby.
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