BMO Real Estate Partners’ (REP) UK property fund has acquired three assets for £49.4m (€56.1m).
The specialist real estate investment manager’s F&C UK Property Fund bought a 39,850sqft industrial warehouse unit in Portsmouth, the 58,000sqft Minerva House office building in Leeds and Cambridge House, a 52,400sqft a mixed-use asset in Bath.
Guy Glover, the fund director of F&C UK Property Fund at BMO Real Estate Partners, said: “These latest transactions reflect our disciplined efforts to deploy the fund’s equity into opportunities that will further improve income returns and, importantly, offer potential to unlock value with our asset management expertise.
”We have a steady pipeline of investments that meet our investment criteria and we look forward to making further announcements in the near future.”
The open-ended F&C UK Property Fund aims to provide investors with income and capital growth through investment in UK commercial property, diversified by both sector and geography.
Following the three latest acquisitions, the portfolio value stands at £560m, split across all sectors but with a weighting towards office and industrial.
