Transactions - DECEMBER 22, 2014

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Moorfield sells investment portfolio for £1b

by Andrea Waitrovich

Moorfield Real Estate Fund and Moorfield Real Estate Fund II have exchanged contracts to sell a diversified real estate investment portfolio to Lone Star Real Estate Fund III, a $6.6 billion opportunistic fund managed by Lone Star Funds, for £1 billion ($1.56 billion).

“This is the largest transaction that Moorfield has undertaken in its corporate history and is a very effective way for MREF and MREFII to realize the majority of their investments,” said Marc Gilbard, CEO of Moorfield Group, in a statement. “We are very pleased with the investment performance this will give to our investors and it allows us to focus on optimizing the value of the remaining assets in these funds together with investing our recently raised MREFIII. We are also glad to be able to continue to work with Lone Star and Hudson Advisors to ensure further value is crystalized from the assets that they have acquired.”

The portfolio is comprised of both tradit

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