US group Oaktree Capital Management and UK firm M7 Real Estate have acquired a further six assets for their office park joint venture Archimedes.
US group Oaktree Capital Management and UK firm M7 Real Estate have acquired a further six assets for their office park joint venture Archimedes.
Financial details were not disclosed.
The portfolio now comprises seven assets across the UK – Alderstone Business Park, Livingston; The Courtyard at Callendar Park in Falkirk; Albert Edward House, Preston; Acorn Business Park, Leeds; Ridge House, Stoke; 1720-1760 Birmingham Business Park, Birmingham and Isis, Oxford.
The most recent acquisitions take the initial portfolio to a total area of 200,000 sq ft (18,500 m2) of space.
Matthew Cheyne, head of UK Asset Management at M7, confirmed that a further four similar assets are under offer. ‘With Archimedes now firmly established we are seeking to add in similar assets to grow towards our targeted spend of £100 mln in this sector whilst working to benefit from the income and value enhancement opportunities presented by these initial acquisitions,’ he said.
Agents acting on behalf of Archimedes in the latest acquisitions included Johnston Waddell, CBRE and LSH.
