InfraRed Capital Partners has acquired a portfolio of nine multi-let industrial estates from Stretton Property Group, a regional property company, for 拢42 mln (鈧�59 mln).
InfraRed Capital Partners has acquired a portfolio of nine multi-let industrial estates from Stretton Property Group, a regional property company, for 拢42 mln (鈧�59 mln).
The portfolio, was was bought on behalf of InfraRed Active Real Estate Fund III, comprises industrial properties located throughout the North West of the UK with a combined gross internal area of around 1 million sq ft, let to over 20 tenants.
InfraRed said it has acquired the portfolio 'to implement a value-add strategy while generating a sustainable distribution yield'. InfraRed intends to actively manage the assets, making a series of building improvements, renewing leases on expiry and letting vacant space across the portfolio.
James Cooper, director at InfraRed Capital Partners commented: 'This acquisition complements our existing North West portfolio which we have acquired over the past 18 months for Active Fund III and which now totals 3.4m sq ft of floor space.'
Dowley Turner Real Estate, Taylor Wessing and Peloton Properties acted for InfraRed. Stretton were represented by CBRE and Freeths.
