Orchard Street Investment Management has invested 拢150m (鈧�209m) on behalf of a pension fund in a portfolio of regional UK assets.
The investment manager said it completed the acquisition of the Alhambra Portfolio, comprising seven prime commercial assets, bought at a net 5.5% initial yield from a private investor.
Six of the seven assets in the 805,519 sq ft portfolio are in the South East.
Gary Felce, partner at Orchard Street, said the acquisition was a rare and exciting opportunity to secure a diversified mix of prime commercial properties in highly sought-after areas of the UK鈥檚 South East and East Midlands.
鈥淎ll assets benefit from excellent fundamentals and exceptional covenant strength, whilst presenting attractive prospects for future income growth,鈥� Felce said.
Assets include a distribution facility near London leased to supermarket retailer Tesco, as well as five regional office properties.
The portfolio has a weighted average unexpired lease term of 17.4 years.
