The 22-month facility will fund the development of five industrial/warehouse units totalling 48,079 sq ft in Orbital Park, a mixed retail, trade counter and industrial/warehouse park located one mile away from the M20 motorway and near the Ashford International train station.
The development will be built to BREAAM ‘Very Good’ standards and will include electrical car charging points.
Neighbouring occupiers to the development site include Screwfix, Toolstation, Barretts BMW, Mercedes-Benz, Kia and a Premier Inn.
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Phil Downie, investment manager at Blackfinch Property, said: “It’s great to partner up with a strong developer committed to building out high-quality and much-needed industrial space in Ashford.
“As a lender, we’re unusual because we have an in-house legal team and real-world development experience across mixed sectors, which positioned us well to handle the complexities of this case.
“There were a few challenges during the due diligence phase, including cost inflation and a change of contractor, so we were able to lean into our problem-solving expertise and restructure several times to ensure we reached completion.
“This will be our first industrial asset on our loan book, and we welcome the opportunity to do more.”
Dr Farid Zadeh Bagheri, CEO and founder of Entralon, added: “A number of macroeconomic factors, such as the growth of e-commerce, Brexit, the global pandemic and disruption in supply chains, are increasing the importance of the industrial real estate sector.
“I believe the shortage of small- and medium-sized industrial units is obvious and will continue in years to come.
“Entralon is ready to do its part to tackle this problem and partnering with a reliable and professional lender, such as Blackfinch, will contribute to achieving the company’s goals.
Rahul Modasia, BDM at Rainstone Money, commented: “It is a great achievement to have overcome the difficulties on one of the most complex development deals I have been involved with.
“The importance of building relationships not only with the client, but with the contractors too is imperative.
“Our experience we have at Rainstone Money helped guide us in the right direction to secure the completion of this £7.4m deal.”