A joint venture between Chancerygate and Hines has agreed to forward sell a 608,000-square-foot, five-asset portfolio in the United Kingdom to real estate private equity firm Northwood Investors for an undisclosed sum.
The portfolio, jointly owned by the industrial developer and global real estate firm, comprises developments in Birmingham, Bournemouth, Cheltenham, Tonbridge and Warrington.
The joint venture will continue to develop the assets through to practical completion, at which point they will be sold to Northwood Investors.
