Indurent has acquired a portfolio of multi-let industrial estates and mid-box warehouses from PGIM for approximately £200m.
The portfolio, which is spread across the UK, comprises 18 assets and includes two land plots offering development potential.
The Blackstone company, which completed £1bn of acquisitions last year, will undertake an extensive refurbishment programme across the portfolio to improve the energy efficiency and ESG credentials of the units.
Julian Carey, CEO of Indurent, said: “The long-term outlook for the sector remains highly compelling. This acquisition further underlines our commitment to building a portfolio of high-quality, well-connected assets which give our customers the best choices from which to run and grow their businesses.
“We are actively seeking opportunities to expand our portfolio in 2025 through further acquisitions, as well as developing an additional 2m sq ft of new sites each year from our significant land bank, creating jobs and fuelling national and regional growth.”
