TR Property Investment Trust has made its first acquisition of physical assets in nearly a decade, in a deal that represents the European property trust鈥檚 focus on growing its physical portfolio in core rental growth markets, with a strong emphasis on light industrial.
The London-listed trust said it has acquired a 120,000sqft multi-let industrial estate in Bicester, Oxfordshire for 拢16.05m (鈧�19m) and invested 拢3.25m to acquire a 30,000sqft light industrial unit in Northampton.
TR Property mainly invests in real estate investment trusts and listed property companies, but can also hold up to 15% of its assets in physical UK real estate.
TR Property said the transactions 鈥� which represent its first acquisitions since 2015 鈥� are part of the trust鈥檚 ongoing 鈥渇ocus on building up its physical portfolio in core rental growth markets as it doubles down on light industrial, one of the investment team鈥檚 favoured sectors鈥�.
George Gay, direct property fund manager at TR Property, said: 鈥淭hese acquisitions mark our first foray back into purchasing physical assets for almost ten years and underscores our focus on core rental growth markets such as light industrial.
鈥淥ur investment team has long recognised the resilience and growth potential of light industrial assets, particularly in light of UK businesses鈥� efforts to de-risk global supply chains. As we aim to move our direct weighting closer to 10%, we continue to search for further acquisitions.鈥�
The trust, established in 1905, has focused exclusively on the property sector since 1984.
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