Lone Star has bought close to £1bn (€1.27bn) in UK real estate assets from two funds managed by Moorfield.
The US opportunistic investor has acquired the diversified portfolio for its Lone Star Real Estate Fund III.
The assets were sold by two private equity-style real estate funds launched by Moorfield in 2005 and 2007, MREF and MREF II.
The portfolio includes traditional retail and office assets, as well as hotels, residential investments and student accommodation.
Moorfield were unable to disclose whether the portfolio included a UK logistics fund acquired from Hermes in 2011.
It was also not made clear whether the sale meant both Moorfield funds are now fully divested.
Marc Gilbard, CEO of Moorfield, said it was “the largest transaction that Moorfield has undertaken in its corporate history and is a very effective way for MREF and MREF II to realise the majority of their investments.”
Moorfield will continue to have a role as asset manager, alongside Lone Star subsidiary Hudson Advisors, to “ensure continuity”, it said.
Moorfield is currently investing on behalf of its third fund, MREF III.
Lone Star launched its Lone Star Real Estate Fund in 2013 with $7bn committed by investors. It also finished raising capital for its latest global opportunistic fund, Lone Star Fund IX in July, securing $7.2bn from investors.
