Barings Real Estate and HSBC UK have issued a £376 million (€432.6 million) loan to refinance debt on Milton Park, a science and technology park in Oxfordshire.
The financing replaces a £200 million facility secured by the asset, which contains 84 buildings throughout three million sq. toes. The property is managed by Federated Hermes on behalf of a three way partnership comprised of institutional buyers. Toronto-headquartered pension CPP Investments accounts for half of the three way partnership’s possession curiosity.
Milton Park was constructed on the location of a former Royal Air Force depot, south of Oxford, and grew to become a buying and selling property in 1971. It is among the many largest science campuses in Europe and is leased to about 250 tenants, based on Federated Hermes. The property comprises versatile workplaces, laboratories, co-working areas and analysis and improvement house.
The park is within the UK’s Golden Triangle, an space bordered by elite establishments together with the schools of Oxford and Cambridge and high London universities. Take-up on this space totalled 266,300 sq. toes within the first half of 2025, which is an 86 p.c rise on the identical interval final 12 months, based on actual property advisor CBRE.
This profile made the property an excellent match for Barings, a North Carolina-based supervisor. “This transaction reflects our continued commitment to backing high-quality, strategically located assets that drive long-term value for institutional investors,” mentioned Chris Bates, head of Europe actual property debt origination.
Richard Holland, senior relationship director, actual property finance at HSBC UK, mentioned the property is a major a part of the UK’s science, technology and innovation “ecosystem”. “The park’s scale, diversity and quality of occupiers and strategic location reflect the sustained demand for space in high-growth, future-focused sectors, something we’re always committed to supporting.”
The asset is 6km north of the Harwell Science and Innovation Campus. In June 2023, that property obtained a £300 million loan from a consortium of lenders, one among the largest UK property offers of that 12 months.
Lenders have been more and more issuing loans throughout a variety of ticket-sizes to science and technology property this 12 months.
In July, Spanish lender CaixaBank refinanced Stoneshield Capital and Inmobiliaria Colonial’s science and technology workspace platform Deeplabs with a €170 million facility. The platform contains circa 20 buildings throughout Barcelona and Madrid. That similar month, L&G supplied Breakthrough Properties, a life science actual property developer with a £38 million loan for the refinancing of the One Helix analysis and improvement constructing in Amsterdam.
Barings has a European loan e-book of $2.4 billion (€2.05 billion) on behalf of a variety of automobiles, together with separate accounts, commingled funds, membership offers, co-investments and joint ventures.