BMO Real Estate Partners鈥� (REP) UK property fund has acquired three assets for 拢49.4m (鈧�56.1m).
The specialist real estate investment manager鈥檚 F&C UK Property Fund bought a 39,850sqft industrial warehouse unit in Portsmouth, the 58,000sqft Minerva House office building in Leeds and Cambridge House, a 52,400sqft a mixed-use asset in Bath.
Guy Glover, the fund director of F&C UK Property Fund at BMO Real Estate Partners, said: 鈥淭hese latest transactions reflect our disciplined efforts to deploy the fund鈥檚 equity into opportunities that will further improve income returns and, importantly, offer potential to unlock value with our asset management expertise.
鈥漌e have a steady pipeline of investments that meet our investment criteria and we look forward to making further announcements in the near future.鈥�
The open-ended F&C UK Property Fund aims to provide investors with income and capital growth through investment in UK commercial property, diversified by both sector and geography.
Following the three latest acquisitions, the portfolio value stands at 拢560m, split across all sectors but with a weighting towards office and industrial.
