Peloton Real Estate and Moorfield Group have formed a joint venture to aggregate an initial £100 million (€118 million, 120 million) portfolio of open outdoor storage assets throughout the United Kingdom. The joint venture made its first investment with the purchase of an 11.4-acre site in the Garston district of Liverpool, England, for £4 million (€4.7 million/$4.8 million).
The open-storage strategy will focus on assembling a geographically and occupationally diverse portfolio of sites, with the aim of generating a secure income profile, while adding value through active asset-management initiatives. Moorfield is the majority investor in the joint venture, on behalf of its Moorfield Real Estate Fund V, with Peloton primarily responsible for identifying acquisitions and operating the portfolio.
The Garston site was formerly an industrial estate demolished in preparation for the development of a residential scheme. The area is set to benefit from the commercial g
