A fund managed by the real estate arm of global alternative asset manager ICG has acquired a 拢136.5m (鈧�160.2m) UK retail park portfolio from M7.
ICG Real Estate鈥檚 (ICGRE) Strategic Real Estate II fund has the Priory Retail Park in Colliers Wood, Great Lodge Retail Park in Tunbridge Wells and the Arches Retail Park in Watford, which together totals 360,000sqft in gross lettable area.
Chris Nichols, managing director at ICG Real Estate, said: 鈥淭his transaction underscores our ability to acquire prime portfolios at attractive pricing. We see the retail park space as a compelling opportunity, benefitting from favourable real estate, occupational and consumer fundamentals.
鈥淭his particular portfolio offers strong asset management potential, which we look forward to realising throughout the hold period 鈥� to generate meaningful value for the benefit of our investors.鈥�
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