European fund manager Europa Capital has acquired a retail park in the UK for 拢20.6 mln (鈧�28.8 mln) as part of a new value-add joint venture with Ediston Real Estate.
European fund manager Europa Capital has acquired a retail park in the UK for 拢20.6 mln (鈧�28.8 mln) as part of a new value-add joint venture with Ediston Real Estate.
Under the partnership, the two companies aim to invest 拢95 mln (鈧�133 mln) in retail warehouse and office properties to which value can be added through asset management initiatives. Europa Capital will carry out the acquisitions through its Europa Fund IV.
The first joint venture, established in 2011, invested around 拢250 mln in office and retail properties in the UK.
In the first deal for the new JV, Pasteur Retail Park in Great Yarmouth was purchased from a company managed by London & Capital. The property comprises around 11,000 m2 with tenants including DIY retailer B&Q, discount retailer Home Bargains, Pets at Home and electrical goods store Argos. There is also one vacant unit.
Europa Capital and Ediston Real Estate were represented in the transaction by Stockford Staunton and Morgan Williams. London & Capital was advised by Wilkinson Williams.
Europa Capital is a real estate fund management group active across Europe which has, since 1995, raised seven funds and carried out over 80 transactions totalling some 鈧�8 bn across 18 European countries.
Launched in 2004, Ediston Real Estate manages over 拢500 mln of property assets for institutional investors across the UK.
Top Investors
Europa Capital features in 51st place in PropertyEU's Top Investors ranking of dealmakers by transaction volume in 2014. Check out the for the ranking and background information on the top European dealmakers of 2014.
