CBRE Global investors has purchased seven properties for circa £64 mln (approx. 79.6 mln) from Mountgrange and Patron Capital from the Mercury portfolio.
The seven assets comprise three retail warehouses, two multi-let industrial estates and two distribution warehouses. The assets represent some of the core properties in the portfolio and all are located in Greater London and the South East.
Richard Dean, Director at CBRE Global Investors, commented "We are delighted to have concluded this purchase from Mountgrange and Patron Capital. The seven assets are all good quality, well located properties, in Greater London and the South East. They are an excellent fit for the risk profile of our client. The price paid reflects the structure of the transaction and we expect strong performance from these assets."
The seven assets comprised:
1. The Wharf, Godalming
2. Pets at Home, London Road, Brentford
3. B&Q, Lister Road, Basingstoke
4. Bunzl, Lister Road, Basingstoke
5. Brunswick Industrial Estate, London N11
6. Brent Trading Estate, London NW10
7. Tesco, Factory Lane, Croydon
CBRE Global Investors was advised by BNP Paribas.