Grace Real Estate Partners, a real estate investment company, has acquired a residential portfolio based in Zone 1, London.
The purchase comprises 110 units of underutilised residential space alongside commercial and ancillary facilities.
This is the second acquisition for the private real estate investment group, which in August 2023 completed its first transaction - a portfolio of 478 residential units across 25 buildings in Newcastle and its surrounding counties - comprising 270,000 ft2 (25,000 m2) of lettable space.
Georges Tohme, founding director at Grace said: 'These two acquisitions are exciting opportunities given the multiple routes for optimisation the portfolios offer.
'The purchases are consistent with Grace’s strategy of unlocking value through active management of well-located residential properties in growth areas. Moving forward, we will continue to target quality assets in line with our dynamic, ESG-led asset management strategy.'
Grace focuses on the UK residential private rented sector (PRS) and specialises in value-add strategies, transforming underused assets into dynamic, strong performers with sustainable impact. It has an initial portfolio target of £750 mln.
Jacob Cronstedt, founding director at Grace added: 'We see a compelling opportunity to scale our strategy and leverage our significant experience in the PRS sector in which we have invested and operated for more than 20 years and have consistently delivered high-risk adjusted returns with a top-tier track record.
'The first two acquisitions align perfectly with our strategy of utilising our strong asset management expertise to add value and create an institutional product with enhanced sustainability credentials.'
