Catalyst Capital has acquired a portfolio of UK properties for £13m from TH Real Estate.
Catalyst’s new European real estate fund, Catalyst European Property Fund II, has purchased the portfolio of four properties at a net initial yield of 8%.
The properties comprise units 2,620-2,650 at Birmingham Business Park, which total 52,735 sq ft and are 55% leased to multiple tenants; building 1,300 at Bristol Parkway North, which totals 30,175 sq ft and is 100% leased; a vacant 57,410 sq ft industrial unit on Eismann Way, Corby; and a 17,795 sq ft industrial unit on Stephenson Way, Newark, which is 100% let.
Catalyst Capital partner Guy Wilson said: “We are pleased to have secured this portfolio of four properties for our new European fund, which continues our current strategy in the UK of purchasing regional portfolios. The properties provide an opportunity for value enhancement through refurbishment and reletting.”
Catalyst announced in June the first close of CEPF II, a real estate fund targeting €1.25bn of investments, having raised equity commitments of €150m from global institutional investors.
Deloitte acted for Catalyst.
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