Patron Capital and INBRIGHT JV secures financing from BGO for German light industrial scheme

Ludwigsburg, Germany (October 7, 2025) - Patron Capital, the pan-European institutional investor focused on property-backed investments, and its partner INBRIGHT, the specialist light industrial and logistics investor, developer, and asset manager, have secured development financing exceeding EUR 100m to support the construction of the Ludwigsburg Industrial Centre that will operate under the brand LIZ. Ludwigsburg is a city located in the West of Germany just north of Stuttgart.

The loan has been provided by BGO, a leading global lender in commercial real estate. It represents the refinancing of a facility used to acquire the LIZ site as well as a new development loan to refurbish existing buildings and the construction of new buildings on the 51,000 sqm site.

LIZ is a flexible and state-of-the-art light industrial campus. Upon completion it will provide around 100,000 sqm GLA of ESG compliant space for businesses based in the Stuttgart metropolitan region. LIZ is the largest construction project of its kind in Germany’s Baden-Württemberg region and the third largest in Germany.

Formerly a manufacturing site for German industrial group MANN+HUMMEL, Patron Capital and INBRIGHT are transforming 44,500 sqm of existing buildings into pioneering energy efficient future proofed R&D and light industrial space, designed to meet modern occupational requirements with highly flexible spaces across units of multiple sizes ranging from approximately 300 sqm to large-scale single-tenant solutions of up to 75,000 sqm. A number of buildings on the site are also being dismantled and replaced with new modern properties. LIZ is being specially designed for businesses operating in the engineering, high-tech, electronics, logistics, automotive, and transportation sectors.

Refurbishment of the existing buildings is now almost complete, with a large portion of space having already been leased. MANN+HUMMEL, the former owner of the site, is remaining as a long-term occupier. ISPTech, a renowned German space technology company, has also committed to the LIZ. Furthermore, occupiers from the technology and digital industrial sectors are currently in negotiations to take space at LIZ. Works are also beginning on a new 50,000 sqm sustainable building, with first phase completion expected in 2027.

Successfully securing development financing is testament to LIZ’s quality and design that is comprehensively committed to the highest ESG standards. Resource conserving renovations have been undertaken and energy-efficient new buildings will encompass wood-hybrid construction. The project is aiming for DGNB gold certification and will benefit from PV systems, connection to the Ludwigsburg municipal utility district heating network, the use of green electricity, and an integrated e-mobility concept. Extensive green roofs will promote biodiversity, while recycled building materials are being used on the project.

Christoph Ignaczak, Senior Partner and Investment Director at Patron Capital, said: “Securing this significant financing for LIZ is further evidence of the project’s success and our wider strategy with INBRIGHT to allocate long-term capital to first-class light industrial projects. Our investments are laying the foundations for sustainable value creation by delivering strong industrial infrastructure in one of Europe's most important economies as it reinvents itself for the future."

Laura Manthe, European Debt Team Managing Director, BGO said: “BGO is pleased to be supporting the Patron and INBRIGHT JV in delivering a best-in-class light industrial asset in Germany. This transaction is consistent with our debt investment thesis of backing high-quality, sustainable assets in sectors with strong supply-demand fundamentals, alongside proven institutional sponsors.”

Dr. Till Meister, Senior Project Manager and Authorized Signatory at INBRIGHT, said: “LIZ is a central anchor of our partnership with Patron Capital and our JV in creating light industrial and urban logistics properties in the German and Portuguese markets together. As a flagship project, LIZ sets a milestone for Ludwigsburg and exemplifies the strength of our strategy."

The JV between Patron Capital and INBRIGHT is aiming to build a diversified portfolio of sustainable light industrial and logistics properties with a value of more than EUR 500 million in economically strong locations in Germany. Apart from Ludwigsburg, the JV has acquired four assets to date – in Cologne-Marsdorf, Norderstedt, Mainz and Hamburg-Porgesring – with further assets in exclusivity. The JV is also operating in Portugal, building investments in light industrial and logistics properties valued at EUR 100 million.

For more information about LIZ and available space visit www.liz-ludwigsburg.de.

About Patron Capital Partners

Patron represents approximately €5.3 billion of capital raised across several funds and related co-investments, investing in property, corporate operating entities whose value is primarily supported by property assets and distressed debt and credit related businesses.

Since it was established in 1999, Patron has undertaken more than 200 transactions across 116 investments and programs involving over 9 million square metres in 17 countries, with many of these investments realised.

Investors represent a variety of sovereign wealth funds, prominent universities, major institutions and private foundations located throughout North America, Europe, Asia and the Middle East. The main investment adviser to the funds is Patron Capital Advisers LLP, which is based in London, and Patron has other offices across Europe including Barcelona and Luxembourg; the group is comprised of 66 people, including a 42-person investment team.

Further information about Patron Capital is available at www.patroncapital.com

About INBRIGHT

INBRIGHT develops light industrial and logistics properties in economically strong locations with excellent transport connections. Since its founding in 2020, the company has delivered projects with a total investment volume of over €500 million and approximately 230,000 square meters of rental space in Germany. With the establishment of INBRIGHT Portugal, the company has expanded into the Portuguese market. Today, INBRIGHT employs 25 team members, all dedicated to implementing sustainable and innovative real estate solutions.

Further information about INBRIGHT is available at www.inbright.de

About BGO

BGO is a leading, global real estate investment management advisor, real estate lending advisor, and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $89 billion USD of assets under management (as of June 30, 2025). BGO has offices in 25 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest, provide real estate lending solutions, and manage real estate assets on behalf of our clients.

BGO’s global lending platform is active in the UK, Europe, the U.S. and Canda. In the UK and Europe, BGO, on behalf of its clients, focuses on senior, whole loan and mezzanine lending solutions typically structured to enable borrowers to implement their business plans.

BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.

For more information, please visit www.bgo.com

Media Enquiries

Henry Columbine/James Carnegie/Laurence Hill, Patron Capital
t: +44 (0)7827 486224

SEC Newgate
e: patron@secnewgate.co.uk

Yvonne Hoberg, INBRIGHT
t: +49 151 54 750 169
e: yvonne.hoberg@glowing-mind.com