EPISO 5, a fund advised by pan-European investment manager Tristan Capital Partners, has acquired a portfolio of UK logistics assets for £68 mln (€76 mln).
The off-market deal comprises 11 prime, new-build logistics buildings in the Midlands and Southwest of the country and all currently vacant, except for one.
The vendors were the Richardson family, St Francis Group and Curtis Hall. The buildings were recently developed by Richardson.
The portfolio represents 668,000 ft2 (6,200 m2) of space across three logistics sites: Velocity 42, in Redditch; Cransley Park, in Kettering, Northamptonshire and Worcestershire; and Western 105, Avonmouth, Bristol. The Redditch asset has one tenant.
Nicho Jenkins, managing director at Tristan Capital Partners, said: 'The coronavirus crisis has accelerated e-commerce trends in the UK, resulting in a surge in occupational demand for strategically located warehouses.
'The UK is suffering from a limited supply of new logistics buildings and the modern, flexible space offered by these recently developed assets has already attracted strong interest from a variety of potential occupiers. Our plan is to lease up the vacant space and pursue similar opportunities to potentially build out a UK logistics portfolio.'
DTRE represented the purchaser, while the Richardson family was unrepresented.
