The asset manager said it has acquired three UK logistics assets totalling 237,000sqft.
BMO REP has agreed an £11.6m forward commitment for a pre-let 80,000sqft logistics warehouse on the Futura Park commercial district in Ipswich. The freehold asset is due for completion in April 2021.
The manager’s second investment is an £11m forward commitment for a 56,800sqft logistics warehouse in Aston. The asset, which is due for completion in July, is fully pre-let to Truflo Marine.
BMO REP said the third deal is a £10.3m acquisition of an up and built modern mid-box industrial warehouse estate, known as Teltron Point, comprising three units totalling 99,867sqft. The units are let to three separate tenants.
Matthew Howard, fund manager at BMO REP, said: “Our objective for the client has been to recycle the proceeds of recent sales into a diversified pool of modern logistics facilities in well-connected strategic locations with sound economic drivers. We are delighted to have continued this programme with the purchases in Ipswich, Birmingham and Swadlincote.
“We continue to have strong conviction in the industrial sector, and we believe these well-located modern facilities with attractive lease terms will provide accretive risk-adjusted returns for our client.”
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