UK investment management firm Cording Real Estate Group and US private equity group HIG Capital have acquired an office complex in the UK city of Manchester for 拢35 mln (around 鈧�50 mln).
UK investment management firm Cording Real Estate Group and US private equity group HIG Capital have acquired an office complex in the UK city of Manchester for 拢35 mln (around 鈧�50 mln).
The asset was purchased from a private investor client of Knight Frank.
The complex, called The Anchorage, is located at the gateway to Anchorage Quay and has views over the water to MediaCity, the new home of the BBC.
It comprises 218,800 sq ft (23,500 m2) of office space in four self-contained buildings as well as a multi-storey car park. The four buildings are fully to Muse Developments (Anchorage 1 and 2) and Bupa Investments (Anchorage 3 and 4).
Cording has investment mandates totalling around 鈧�2.4 bn. The company was formed in 2009 and has nine offices in the UK, Germany, Denmark and the Netherlands, employing 87 staff.
Miami-headquartered HIG Capital has built up a European real estate portfolio of over 鈧�1 bn over the past 24 months and is working towards setting up its first European fund later this year.
