Patrizia has invested £34m in the UK to buy a 440,000sqft multi-tenanted industrial estate from Tristan Capital Partners’ core-plus CCP 5 Fund.
M7 Real Estate said it has sold Wednesbury Trading Estate in West Midlands on behalf of the Tristan Capital fund.
M7 was appointed as asset manager by Tristan Capital following their acquisition of the property in 2019.
Jean-Phillipe Blangy, head of asset management at Tristan Capital Partners, said: “The West Midlands boasts a strong local economy and easy connections to the rest of the country, ensuring well-located industrial assets like this will always attract investor interest. The sale of this asset off-market is testament to the smart management and sizeable increase in rent return since we acquired it two years ago.”
Sadie Fitzpatrick, senior asset manager at M7 Real Estate, said: “Completion of the various asset management strategies, in record time, enabled an early disposal which took advantage of the current levels of
exceptionally strong demand for high quality, well located multi-tenanted industrial estates such as Wednesbury.”
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