Sixth Street and Clipstone Investment Management, the London and Southeast U.K. industrial specialist manager, have announced C6 Industrial, a new joint venture to invest in high-quality U.K. multi-let industrial assets, which will be seeded with the recapitalization of a 37-asset portfolio owned by Clipstone Industrial REIT plc.
Sixth Street will provide the majority of the equity capital, and Clipstone will continue to manage the portfolio with the joint venture looking to grow the platform via new acquisitions.
The portfolio totals approximately 1.7 million square feet with assets concentrated around dense urban London and Southeast locations in the United Kingdom. The properties are located in strong occupational markets, including Enfield, Hanworth, Sutton, Chessington, Welwyn, Bracknell, Reading, Newbury, and Stansted Airport. Around 40 percent of the portfolio is located in the London and M25 area, with the balance across the Southeast.
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