(BMO REP), which seeks to redeploy capital into new income and growth assets, has acquired three UK assets worth 拢24.3m (鈧�27.5m) on behalf of a segregated mandate client.
The manager said it has bought Sutherland House office asset in Glasgow鈥檚 central business district for 拢9.8m; a warehouse property in Horsham, near Gatwick airport for 拢7.5m; and has forward-purchased an industrial scheme in Milton Keynes for 拢7.0m.
In October last year, BMO REP, on behalf of a segregated mandate client, sold three UK assets as part of its plan to reinvest capital into new income and growth assets.
The manager said the latest acquisitions represent the 鈥漰rompt reinvestment of proceeds鈥� from the recent opportunistic disposals.
Matthew Howard, a director of property funds at BMO Real Estate Partners said: 鈥淭hese transactions reflect our disciplined efforts to recycle capital from recent disposals into a mix of both secure and value-add opportunities in core locations, in line with the mandate鈥檚 strategy.
鈥淲e consider the entry prices at which we acquired these properties to be attractive, while they each offer compelling long term prospects to continue generating income and growth on behalf of our client.鈥�
