Benson Eliot has sold its CBXII office scheme in Milton Keynes to Blackrock for £35m, reflecting a net initial yield of 7%.
CBXII is a 15,000 sq ft mixed-use office and retail scheme and is located on Midsummer Boulevard, central Milton Keynes business district, and is split over three buildings.
The property was bought by Benson Elliot in 2010.
James Jakeman, Benson Elliot principal, said: “CBXII was Benson Elliot’s first UK investment, and it’s been a great success for our investors. Having transitioned the asset back to core, the time is right to release the value created.”
Allsop advised Benson Elliot, while Blackrock was advised by Tudor Toone.
