CBRE Global Investors has completed the acquisition of a portfolio of three multi-let industrial estates on behalf of the CBRE UK Property PAIF.
The estates have all been developed by industrial developer Kier Property in 2016/2017. Financial details were not disclosed.
They are located in Watford, West Thurrock and Oxford, UK, and provide a combined total of 126,900 sq ft (11,800 m2) over 30 units designed for trade and light industrial businesses.
'The acquisition is consistent with our continued emphasis on prime real estate in desirable locations,' said Jamie Phillips, portfolio manager at CBRE Global Investors. 'Performance from within our industrial portfolio has been strong in recent times and this acquisition supports our strategy to gain increased exposure to this market.'
Phil Sutton, senior director, Kier Property added: 'This is also the first time we have completed a portfolio sale, which is something I am personally proud of.'
Knight Frank represented CBRE Global Investors alongside CBRE and CMS Cameron McKenna Nabarro Olswang. DTRE represented KIER, alongside Dentons and Pinsent Masons.
