Cushman & Wakefield Advises Urban Industrial on Landmark €470 Million Refinancing Deal
Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has announced that it successfully advised Urban Industrial on a major €470 million refinancing of the company’s core industrial portfolio. The transaction represents one of the largest Logistics & Industrial (L&I) refinancing deals ever completed in the Netherlands and underscores the continued confidence of capital markets in the long-term fundamentals of the European logistics and industrial real estate sector.
This milestone financing transaction demonstrates the strength, sophistication, and resilience of Urban Industrial’s platform—one that has become a benchmark for modern industrial property ownership and development in the Netherlands. The refinancing was structured to strategically balance both short-term and long-term capital requirements, combining a flexible floating rate component with a stable, fixed-rate tranche to provide resilience against changing interest rate conditions.
The transaction was made possible through the support of two key financing partners, Nuveen and ABN AMRO, both of whom share Urban Industrial’s long-term vision for sustainable industrial investment. By combining their financial strength with Cushman & Wakefield’s advisory expertise, the consortium has successfully positioned Urban Industrial to optimize its capital structure, enhance operational efficiency, and continue pursuing its ambitious growth trajectory.
Strategic Refinancing to Fuel Future Growth
The €470 million refinancing package is not just a financial restructuring—it is a forward-looking strategic move designed to enable Urban Industrial’s continued expansion in one of Europe’s most dynamic industrial markets. The transaction provides the company with a stable and diversified financial foundation to pursue its development pipeline, including the completion of its flagship Groothandelsmarkt (GHM) facility in Rotterdam, a state-of-the-art logistics and distribution hub designed to serve the growing needs of the urban industrial sector.
By optimizing its balance sheet and blending different debt instruments, Urban Industrial has created a financing structure that supports both liquidity and long-term stability. The move reflects a growing trend among leading real estate investors to balance agility and resilience in the face of shifting macroeconomic conditions, including inflationary pressures, interest rate fluctuations, and evolving demand across the logistics and industrial sectors.
“This milestone refinancing highlights the strength of our business,” said Richard Baltus, Managing Partner at Urban Industrial. “It represents a landmark moment for our platform as we continue to grow and invest in the future of industrial real estate in the core of the Netherlands. With this new financing structure, we are better positioned to deliver on our long-term strategy and continue creating value for our tenants, investors, and communities.”
Advisory Excellence from Cushman & Wakefield
The refinancing process was advised by Cushman & Wakefield’s Capital Markets Debt Advisory team, which played a central role in structuring and negotiating the deal. Drawing on its deep understanding of debt markets, the team delivered a tailored financing solution that aligns with Urban Industrial’s operational priorities and investment philosophy.
“It’s been a pleasure to advise Urban Industrial, matching its best-in-class industrial platform with the most innovative and leading-edge local and international debt capital,” said David Gingell, Co-Head of EMEA Debt Advisory at Cushman & Wakefield. “Projects like these, delivered on time and with precision, demonstrate the strength and depth of Cushman & Wakefield’s Capital Markets platform as we continue to advise clients on their most complex, high-volume financing transactions.”
Cushman & Wakefield’s advisory role encompassed strategic analysis, debt structuring, lender engagement, and coordination across multiple financial institutions. The team’s ability to combine technical expertise with strong lender relationships proved instrumental in delivering a successful outcome under competitive market conditions.
A Benchmark for the European Industrial Market
This transaction not only marks a key milestone for Urban Industrial but also reinforces Cushman & Wakefield’s growing prominence in the European debt advisory landscape. In the last quarter alone, the firm’s Debt Advisory practice has placed nearly €1.5 billion in financing, advising some of the region’s most prominent real estate investors and institutional platforms. With an active dialogue across more than 350 lenders, Cushman & Wakefield continues to deliver high-probability capital solutions tailored to client objectives.
The success of this refinancing underlines a broader market trend: strong investor appetite for high-quality logistics and industrial assets located in core European markets. Despite recent volatility in global capital markets, demand for logistics and industrial real estate remains robust—driven by e-commerce growth, nearshoring strategies, and continued demand for urban last-mile distribution infrastructure.
Urban Industrial’s portfolio, characterized by strategic locations, modern design, and sustainable operations, is well-positioned to benefit from these long-term structural trends. The company’s disciplined investment strategy and focus on operational excellence have enabled it to attract top-tier tenants and maintain strong occupancy rates across its assets.
Building a Platform for Long-Term Success
Urban Industrial’s commitment to sustainable growth extends beyond financial performance. The company continues to invest in the modernization and redevelopment of industrial spaces that meet evolving tenant needs, while also aligning with broader environmental, social, and governance (ESG) goals. Projects such as the Groothandelsmarkt in Rotterdam exemplify this commitment—combining energy efficiency, digital connectivity, and adaptability to future industrial uses.
The refinancing will allow Urban Industrial to further enhance its development capabilities, ensuring that its assets continue to play a critical role in supporting the Netherlands’ logistics and industrial infrastructure. As the country remains a vital hub in the European supply chain, demand for high-quality, strategically located industrial space continues to outpace supply—creating opportunities for well-capitalized players like Urban Industrial to expand responsibly and sustainably.
Cushman & Wakefield’s Expanding Capital Markets Leadership
The transaction reflects Cushman & Wakefield’s continued leadership in advising on complex financing deals across Europe. The firm’s Capital Markets platform has been steadily expanding its reach, focusing on executing larger transaction volumes and supporting clients through every stage of the investment lifecycle—from acquisition and financing to disposal and portfolio optimization.
With deep sectoral expertise and an integrated network spanning the EMEA region, Cushman & Wakefield offers clients strategic, data-driven insights and bespoke financial solutions. The firm’s growing Debt Advisory practice, in particular, has been pivotal in helping clients navigate volatile credit markets while securing capital on competitive terms.
“Cushman & Wakefield’s ability to deliver large-scale, customized financial solutions is underpinned by our strong relationships with both lenders and borrowers,” added Gingell. “In a dynamic market environment, we provide our clients with clarity, execution certainty, and strategic flexibility—qualities that are critical in today’s capital markets landscape.”
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