Moorfield has invested 拢60.7m (鈧�82.5m) in Scotland for its third real estate fund.
The investment manager, which runs private equity-style real estate funds, said it invested in three adjoining office assets in Glasgow for its UK-focused opportunistic/value-added Real Estate Fund III in a joint venture with Glasgow-based Resonance Capital.
The 1, 2 and 3 Atlantic Quay properties were sold by M&G Real Estate at a 8.54% yield.
Marc Gilbard, Moorfield chief executive, said: 鈥淎tlantic Quay provides us with a significant city centre office complex at the heart of Glasgow鈥檚 International Financial Services District.
鈥淭he modern buildings offer a range of refurbishment, improvement and re-letting opportunities we will work on together with our joint venture partner, Resonance Capital.鈥�
The properties include 280,000 sq ft of office space and currently produce a 拢5.5m rent roll.
The purchase is the fund鈥檚 third in Scotland in the last two years, having bought the Aberdeen Energy and Innovation Parks and Quartermile in Edinburgh.
Moorfield raised 拢350m from US, European and Japanese investors for the fund, receiving 拢250m of discretionary capital commitments and 拢100m of co-investment commitments.
