Carlyle and ARA Dunedin’s joint venture has bought a £102m (€119m) portfolio of UK logistics assets from Moorfield Real Estate Fund IV.

The companies said the joint venture,  established in March this year, has bought the fully-leased portfolio of 11 distribution logistics assets. The fully-leased 1m sqft portfolio is located in the southeast and northwest regions.

Carlyle funded its investment through Carlyle Europe Realty, a pan-European real estate strategy.

The Carlyle and ARA Dunedin joint venture already holds a portfolio of nine UK distribution logistics assets which it acquired earlier this year.

Anssi Halonen, managing director on the Carlyle Europe Realty advisory team, said the latest acquisition consists of ”highly complementary assets to our existing footprint, and the acquisition exemplifies our strategy of identifying well-located assets in the European distribution logistics market, which continues to be an asset class with attractive fundamentals and benefitting from strong structural trends”.

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