Europe has acquired a 558,000sqft UK portfolio of two logistics parks from a fund managed by for 拢80m (鈧�93.8m).
The real estate investment fund manager specialising in logistics and industrial assets said it acquired the fully-let assets located in Redditch and Kettering from the EPISO 5 fund.
The assets are located in the so-called 鈥楪olden Triangle鈥� that links London with the universities of Oxford and Cambridge.
Matthew Tatlock, director at Clarion Partners Europe, said: 鈥淭his acquisition aligns with our thesis of buying modern, under-rented assets in prime locations, with access to near-term reversion.
鈥淟everaging our strong partnerships, we continue to build a portfolio of assets with robust ESG credentials, optimally positioned for future rental growth.鈥�
Clarion Partners Europe said the deal marks the second acquisition made on behalf of its UK-only logistics fund. The fund closed its first acquisition in January, with the purchase of a 拢28m warehouse in Coventry from BlackRock鈥檚 UK Property Fund.
Rory Buck, managing director, Clarion Partners Europe, said: 鈥淲e are pleased to announce the closing of the second deal into our new UK logistics fund, securing two key distribution parks in the Golden Triangle.
鈥淭he UK remains a market where we see significant opportunity, given both the strong underlying fundamentals and the recent repricing due to a change in interest rates over the last 24 months.鈥�
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