InfraRed Capital Partners has acquired 450,000 sq ft (41,800m2) of space across four transactions and seven assets in the North West of the UK as part of an aggregation strategy to expand its Vantage industrial portfolio, now totalling 1.7 million sq ft (158,00 m2) of space.
The four investments were procured off-market on behalf of the InfraRed Active Real Estate Fund IV.
InfraRed acquired the ‘Vantage Portfolio’ as part of a £93 mln deal with Network Space in 2018. The overall portfolio, located within the Northern Powerhouse cities of Manchester, Liverpool, Leeds, and Sheffield, now comprises 32 assets and two development sites.
Dean Harrison, Investment director, Real Estate at InfraRed, said: ‘We continue to see the portfolio benefitting from urban densification trends and accelerating e-commerce, particularly in the wake of Covid-19. We will look to expand our urban logistic holdings in the UK throughout 2020 for both our Active Real Estate Fund IV and our dedicated Urban Logistics Income Fund.’
Dowley Turner Real Estate, B8 Real Estate, Commercial Property Partners, Taylor Wessing and Hollis acted for InfraRed with Network Space continuing to provide development, asset, and property management services.
