Arella Property has acquired a £17m (€20m) office asset from a listed UK commercial property firm, managed and advised by Aberdeen Standard Investments.
UK Commercial Property REIT (UKCM), which owns a diversified portfolio of income-producing commercial property, said it has sold Hartshead House, a single-let office investment in Sheffield.
According to UKCM, the disposal amount reflects the asset’s December book valuation.
Will Fulton, lead manager of UKCM at Aberdeen Standard Investments, said: “This latest disposal is in line with our ongoing strategy to focus our portfolio on modern economy, future-fit, property sectors and assets that benefit from structural changes in the way we interact with real estate.
“We remain a diversified portfolio, strongly weighted to the industrial and logistics market, and continue to look for opportunities to deploy capital”
To read the digital edition of the latest IPE Real Assets magazine click here.
