UK multi-let industrial real estate platform Industrials REIT has acquired a 40,000sqft asset from Swiss Life Asset Managers UK clients.

Industrials REIT has invested an unspecified amount to buy Rochester Trade Park, its first deal since its recent £511m (€590m) takeover offer from Blackstone.

Rochester Trade Park is a fully-occupied multi-let industrial estate comprising 14 units of between 1,500sqft and 6,000sqft.

Will Lutton, head of investment at Industrials REIT, said: “With the support of Blackstone as a committed and well-capitalised owner, we continue to pursue opportunities that will allow us to further scale the Industrials REIT platform and this is the first stage in that process under our new owner.

“Rochester Trade Park is a first-class industrial estate that presents the opportunity to capture rental reversion and create value through both active asset management and the efficiencies of our operating platform.”

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