Maslow Provides 126 Million Euros Loan to Dunas for Former RDM Factory Site

✦ Meridian Analysis

Maslow Capital has signed a €126 million financing package with Dunas Capital Real Estate to fund the purchase of the former RDM factory site in Castellbisbal, Barcelona, and to build two new industrial buildings on the 125,000‑square‑metre parcel. The loan is structured as a single facility that covers the acquisition cost and provides two separate construction credit lines, each earmarked for a building that already has pre‑let agreements. Dunas, the asset manager specialised in temperature‑controlled logistics, is the borrower and issuer of the debt, while Maslow, a specialist real‑estate lender, acts as the sole lender. The transaction was advised by Dunas Debt and the law firm Barrilero. Dunas announced the acquisition of the plant – valued at up to €60 million, as reported by Meridian on 16 October – shortly before closing the financing, and Maslow’s involvement follows a previous €40 million loan to Dunas for its Alma Meco logistics development in the Madrid region. What remains undisclosed are the loan’s pricing terms, covenant package and amortisation schedule, as well as any equity contribution from Dunas. Details on regulatory approvals, the exact construction timetable and the identities of any co‑lenders, if any, have not been provided. Monitoring the start‑up of works next year and the subsequent leasing performance will be key to assessing the financing’s risk profile.

The Meridian Weekly