M&G Real Estate’s has acquired a UK logistics portfolio from Mountpark Logistics EU for £94m (€107.2m).

M&G said it bought the assets, which provides investors with access to long-term secure income streams, on behalf of its capital solutions clients.

The portfolio comprises five, recently developed buildings all situated in key distribution locations with the largest parts of the portfolio in South East England.

All units are fully-let with an average unexpired lease term of over 15 years.

Martin Towns, the head of M&G Real Estate’s UK Commercial & Capital Solutions business, said: “Investor demand for UK logistics assets remains robust, propelled by above average occupier demand, low vacancy levels and limited levels of new development so we don’t anticipate competition for assets moderating any time soon.

“With the support of our specialist sector teams, we look forward to helping existing and future clients around the world to secure direct real estate exposure to support their financial objectives.”

Mountpark Logistics EU is a joint venture between USAA Realco – Europe, the Dutch subsidiary of USAA Real Estate Company and Mountpark Finco.