CLS Holdings has bought an office in Watford for £16.9m from M&G Real Estate.
The 41,226 sq ft Radius House generates a current contracted rent of £1.04m and is let to four tenants, with 51% of income contracted to the government.
The deal reflects a net initial yield of 5.6%.
CLS has also acquired an office in Berlin for €43.5m (£39.7m) from Deutsche Investment KVG.
The scheme, called Goldstruck, compromises two adjoined buildings spanning 93,775 sq ft and is 29% let following the recent departure of the scheme’s anchor tenant.
It currently generates €545,000 of contracted rent, and CLS said there is an opportunity to refurbish and reposition the asset.
CLS chief executive Fredrik Widlund said: “These acquisitions provide a combination of long-term, secure income and an opportunity to capture significant reversion through our active asset management approach.”
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