Hansteen Acquires UK Industrial Portfolio
1 Hansteen Holdings Plc and the Hansteen UK Industrial Property LP fund have acquired an 88-asset portfolio of predominantly industrial properties in the United Kingdom from The Spencer Group of Companies for £150 million (€182 million). The overall portfolio comprises 381,000 square metres of space. Hansteen has acquired 44 of the properties, totalling 223,000 square metres, with a vacancy rate of 41.6 percent, for £75.2 million (€91.2 million). The Hansteen UK Industrial Property fund has acquired 44 of the properties, comprising 158,000 square metres, with a vacancy rate of 17.2 percent, for £74.8 million (€90.7 million). With this acquisition, the fund is now fully invested, with gross assets of £166 million (€201 million) and debt of £76 million (€92.2 million).