U.S.-based The Ardent Cos.’ Strategic Fund I has plans to acquire the Touchwood shopping center in Solihull, West Midlands, United Kingdom, from Lendlease Retail Partnership, an investment fund managed by Lendlease. The sales price is estimated to be £90 million (€104.6 million/$127.5 million).
The town shopping center attracts an annual footfall of 13 million people. The asset covers 650,000 square feet, featuring more than 80 stores.
This is Ardent's second U.K. investment since it opened its new London office in January, first acquiring a 1.4 million-square-foot logistics portfolio, from M7 Real Estate, for £55.2 million (€64.1 million/$78.2 million).
The Ardent Cos. launched a new U.K. business with a major $230 million strategic acquisition fund, Ardent Strategic Fund I, as well as a $300 million debt fund.
