TH Real Estate has bought a £55m Cambridge office park, whose tenants include the NHS’s East of England Headquarters and IBM.
JP Morgan Real Estate sold the 200,000 sq ft Capital Park to TH Real Estate in an off-market deal, reflecting a net initial yield of 6.1%.
Bidwells acted on behalf of the buyer.
JP Morgan bought the property for £31m from Capital & Counties in 2008.
TH Real Estate’s purchase follows on from its £55m acquisition of Heineken’s East Midlands Distribution Centre at Derby Commercial Park , reported last week by Estates Gazette. The sale of the 632,300 sq ft shed reflected a net initial yield of 6%, and represented the company’s first industrial purchase since the merger of Henderson Global Investors and TIAA-CREF on 1 April.
TH Real Estate has an AUM of $23bn (£16.5bn) globally.
