M7 Real Estate has exchanged contracts to buy Goldman Sachs’ Omega portfolio for around £128m.
The purchase is being backed by the Kwok family, which agreed to finance the asset and fund manager last September.
The Omega portfolio has been asset managed by Square Metre Properties on behalf of Goldman. The purchase price reflects a net initial yield of 9.2%.
The portfolio comprises 11 offices, eight industrial properties and seven retail properties located across the UK and totals 1.6m sq ft.
Square Metre amalgamated the portfolio for Goldman, making a number of purchases since the downturn from the likes of Aberdeen Asset Management and Aviva Investors.
Knight Frank acted for Goldman and Square Metre.
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