Maya Capital is to invest £100m (€134.6m) in regional UK office real estate this year.
The private equity firm said a “top-tier” UK institutional investor had backed the firm’s regional strategy with a £100m commitment.
Maya Capital will focus on UK regional cities and has closed its first transaction, as well as having £24m committed to two deals under offer.
A £6m investment in a Swansea building has been made at a net initial yield of 10%.
Maya Capital said its aim is to build a portfolio of UK secondary office assets that are worth ”more together than alone”, due to their complementary risk profiles and investors’ current appetite for larger investment size.
David Pralong, managing partner and founder of Maya Capital, said as all-time low yields plateau in London and its immediate vicinity, there is “growing investor appetite for a regional strategy outside the M25”.
”We are delighted to have the backing of a top-tier institutional investor that has committed £100m to our strategy, and look forward to executing further value driven transactions in the months to come,” he said.
Maya Capital has £15m of investments within the M25, including Countryside House, an office building in Brentwood, which is bought in 2014 and an office building in Reading, bought last October.