The US Air Force’s residential base in Suffolk has been sold by Ireland’s National Asset Management Agency for £50m.
Addington Capital and fund manager Europa Capital have bought 473 homes let to the US Air Force at RAF Lakenheath.
The base’s married quarters and an adjacent small shopping parade were sold by bad bank Nama as part of a consensual sale process.
The purchase marks the joint venture’s third transaction, following the acquisition of a £39.1m UK student housing portfolio in 2012, and a shopping centre portfolio in 2006.
Europa Capital bought the properties on behalf of its Europa Fund IV, a closed-ended pan-European fund. Investors in the vehicle include the $58.3bn (£34.3bn) Virginia Retirement System pension fund, which committed €75m (£59m) to Europa in April.
The transaction provides “an opportunity to purchase a significant quantum of residential accommodation in an area and sector which is steadily improving”, said Europa partner Rob Sim.
Cushman & Wakefield Corporate Finance advised Nama; Savills acted for Europa Capital and Addington.
