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Sign in Sign up for a FREE subscriptionBlackstone, M7 buy £320m U.K. industrial portfolio
InfraRed Capital Partners, on behalf of its Active Real Estate Fund III, has sold a £320 million ($447 million) U.K. light industrial portfolio to Blackstone Group and M7 Real Estate.
The portfolio comprises 4.5 million square feet of light industrial space across 40 properties located mostly in the North West and the Midlands along the M6 corridor.
InfraRed created the Powerhouse portfolio through multiple acquisitions, the first of which took place in 2014.
“The U.K. industrial market remains highly sought after by investors seeking defensive income underpinned by a shortage of available space plus the ongoing expansion of e-commerce and last-mile delivery. This sector remains a core part of our pan-European investment strategy,” said James Cooper, director, real estate at InfraRed Capital Partners.
