BlackRock's UK Property Fund has completed the acquisition of the Bedfont industrial estate from Trehaven Group for £24 mln (28 mln).
BlackRock's UK Property Fund has completed the acquisition of the Bedfont industrial estate from Trehaven Group for £24 mln (28 mln).
The six--hectare site is located one mile to the south of Heathrow Airport and the BA World Cargo Centre. The estate is currently operated as an open-storage site but has planning permission to redevelop around 30,000 m2 of industrial/distribution accommodation. BlackRock was advised by Tudor Toone, Doherty Baines and Graftongate.
The BlackRock UK Property Fund invests across different real estate asset types including traditional and alternative property assets.
In May, New York-listed fund manager announced it has entered into a definitive agreement to acquire MGPA, the private equity real estate investment advisory company in Asia-Pacific and Europe. Following the acquisition BlackRock will have pro forma assets under management of $25 bn as of end-March 2013.
