Wells Fargo completes sustainability-linked £350m debt facility with AIPUT

We have advised financial services giant Wells Fargo in its arrangement and underwriting of a £350m debt facility for abrdn-managed AIPUT (Airport Industrial Property Unit Trust). AIPUT is a £1 billion award-winning specialist industrial real estate fund, managed by Nick Smith.

The new facility aims to deliver AIPUT's next phase of growth: expanding, diversifying and decarbonising their portfolio of prime industrial real estate assets in and around the UK’s key gateway locations.  The sustainability-linked structure of the facility will not only help them deliver smarter energy efficient buildings that attract and retain environmentally responsible tenants and staff, but also improve the overall quality of their assets with new features that increase operational efficiency and reduce costs for customers.

Commenting on the deal, Taylor Wessing banking and finance partner, Heather Buttle, said: "It has been hugely gratifying to see this transaction come to fruition for both our team and the client. We're looking forward to seeing Wells Fargo and AIPUT's ongoing successful partnership grow now this big milestone has been achieved."

Nicola Free, head of Wells Fargo Commercial Real Estate in EMEA, said: "AIPUT has some exciting plans for the future, including becoming a net zero carbon business by 2040, so we're delighted to have worked with Taylor Wessing on this financing structure to support AIPUT's goals. Taylor Wessing's advice was highly valued  throughout the process."

The team was led by banking and finance partner Heather Buttle, with support from real estate partner Emma Oakley and planning and environment partner Emma Tait and associates Louis Dewfall and Edward Garton (banking and finance), Jane Hilton, Georgina Watt, Rhys Bufton, Sarah Franke, Sarah Bolton, James Minshull, Daniel O'Brien, Francesca Gibbs and Rachel Kingston (real estate) and Anna-Mariya Angelinova (planning and environment).