Alpha Real Capital has completed two ground rent transactions via its Index Linked Income Fund (ILIF) for 鈧�103 mln.
ILIF has acquired 28 Dobbies Garden Centres in a ground rent sale-and-leaseback transaction, which supports the recent purchase of the Dobbies Garden Centres by investors including Midlothian Capital Partners and Hattington Capital. The properties are geographically spread across the UK. The deal amounted to 鈧�99m (拢85m).
A secondary, smaller deal sees the acquisition of a ground rent over the Kenwood Hall Hotel in Sheffield created through a sale and leaseback to support the acquisition of Kenwood Hall Hotel by Vine Hotels, a hotel investor and operator. The price was around 鈧�3.5 mln (拢3 mln).
'We are delighted to have partnered with the acquirers of Dobbies Garden Centres to support them in their acquisition of the business. We have acquired high-quality assets with a good geographic diversification,' said Mark Rattigan, partner and the fund manager for ILIF.
