Clarion Partners Europe has added a 拢115m (鈧�135m) logistics park to its portfolio.
The real estate investment fund manager said it has acquired the 954,000sqft Frontier Park Blackburn asset in Blackburn, North West England from developer Monte Blackburn.
Neli Mihova, vice president at Clarion Partners Europe, said: 鈥淭his was a rare opportunity to acquire a modern logistics scheme in the North West, below replacement cost.
鈥淭he region has been characterised by a shortage of modern stock and a muted development pipeline, underpinning the asset鈥檚 attractive reversion potential.鈥�
Rory Buck, managing director of Clarion Partners Europe, said: 鈥淒espite continued market volatility, we have deployed a further 拢115m into the UK, demonstrating both our deal execution capabilities and the attractive opportunities that the current market dislocation is throwing up.
鈥淭his acquisition reflects our continued focus on modern logistics assets benefitting from supply constraints within UK logistics corridors.鈥�
To read the latest 91传媒在线 magazine click here.
