ESR Europe has acquired a 221,000sqft UK logistics facility, which it will manage on behalf of funds from Carlyle’s pan-European real estate strategy.

ESR Europe said it has bought Enterprise House in Talke, Stoke-on-Trent, on behalf of the Carlyle Europe Realty funds.

The asset, currently let to AAH Pharmaceuticals, is scheduled for refurbishment by ESR Europe and Carlyle to improve its distribution capabilities.

The latest deal expands the partnership’s portfolio, which now exceeds £400m (€461.5m) in total assets under management.

Gordon Kellie, head of UK real estate in Carlyle’s Europe Realty advisory team, said: “This acquisition highlights our ability to identify and actively manage high-quality logistics assets in core UK locations.

“We see clear opportunities to enhance Enterprise House through targeted investment and hands-on asset management while continuing to build scale and momentum across our UK logistics portfolio, with the support of ESR Europe.”

Roun Barry, CEO at ESR Europe, said: “This transaction represents another successful acquisition in the UK logistics space, and is indicative of our ambition to continue to aggregate similar properties to the portfolio.

“Through a disciplined approach to asset selection and management, we continue to identify strong opportunities for long-term value creation in the competitive UK logistics sector, and we remain actively engaged in pursuing additional strategic deals alongside Carlyle.”

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