CBRE Global Investors has secured a Shariah-compliant financing for the Sports Direct National Distribution Centre in Shirebrook, Derbyshire. The 60% loan-to-value facility has been arranged with Standard Chartered Bank for a term of five years.
CBRE Global Investors also entered into a fixed rate Shariah-compliant profit rate swap with Standard Chartered Bank for the underlying financing to fix the yield for their client.
The 1.8 million sq. ft. Sports Direct headquarters and National Distribution Centre was acquired in June 2019. It is one of the largest logistics sale and leaseback deals completed in the UK to date and was acquired on behalf of an international separate account client.
In Europe, CBRE Global Investors manages a loan book of €6.5 billion and circa €2.8 billion of derivatives covering 17 countries in eight different currencies and 91 facilities. CBRE Global Investors closes on average 25 deals per annum.
The strong network of relationships CBRE Global Investors has with financial institutions assisted them in securing this Shariah-compliant Financing. With the increasing number of Asian and Middle Eastern investors requiring Shariah-compliant investments and financing, this is another example of CBRE Global Investors offering a full client solution package.
