Tristan fund buys U.K. retail parks portfolio for £245m

Tristan Capital Partners, a pan-European real estate investment manager, has acquired a portfolio of nine U.K. retail parks for £245 million ($300 million) on behalf of Curzon Capital Partners IV. The portfolio was acquired from a fund advised by Brockton Capital.

The parks, located near major urban areas across the United Kingdom, total more than 1.2 million square feet. The space is currently 97 percent occupied by tenants and provides for a weighted average lease term in excess of eight years.

Curzon Capital Partners IV is a core-plus fund that launched in 2015 with a €425 million ($520 million) fundraising goal. The fund completed its first acquisition in 2015, acquiring No.1 Stratford Place, a class A office building at the entrance to Westfield Stratford City, from Westfield PLC. During 2016, the fund acquired The Forum at Solent Business Park in Fareham, England, for £43 million ($43 million) from M&G Investments.

Curzon Capital Partners III, the