Delin Capital Asset Management has expanded its portfolio with the acquisition of a distribution warehouse in Manchester, UK.
Delin Capital Asset Management has expanded its portfolio with the acquisition of a distribution warehouse in Manchester, UK.
The 20,500 m2 warehouse was acquired from Investec Bank in an off-market transaction valued at £13 mln (€15.4 mln).
The warehouse is located in the Agecroft Commerce Park and is fully-let to Bunzl Retail on a long-term lease with more than 13 years remaining.
The acquisition represents Delin Capital’s sixth purchase on behalf of its €400 mln Capital Preservation Portfolio I Fund. The core-plus fund was launched in October 2012 and has now deployed some €180 mln of equity.
Delin Capital was advised on the deal by Deloitte and CMS.
