CBRE Investment Management sells portfolio of six U.K. industrial estates to Legal & General

CBRE Investment Management, on behalf of a separate account client, has sold the Porto Portfolio, comprising six freehold, multi-let industrial estates across the East, South East and South West of England, to Legal & General. The sale totaled £150 million ($203 million), expanding Legal & General's investment portfolio to £3.8 billion ($5.1 billion) in the United Kingdom.

The Porto Portfolio represents a total of 403,087 square feet of industrial space, with unit sizes ranging from 4,679 square feet to 30,280 square feet. The properties are located in Oxford, Maidstone, Southampton, Huntingdon, Bristol and Gloucester, housing a mix of 23 local and national long-term occupiers across 32 units. Tenants include Screwfix, Toolstation, Howdens and Travis Perkins.

The firm’s LGIM Real Assets Managed Fund has made five acquisitions across the office, retail, leisure and industrial sectors, representing 600,000 square feet.

The acquisitions include a 20,821