Aureon Partners and Caisson iO have launched a new £300m UK multi-let industrial (MLI) property investment platform.
The platform, which will target high quality MLI and urban logistics assets strategically located in key regional UK conurbations, has been seeded with £36m of acquisitions in Weston-super-Mare and Leeds.
In Weston-super-Mare, the platform has acquired the 303,000 sq ft Weston Industrial Estate (pictured) from Legal & General, and in Leeds it has acquired Metro Park – a self-contained 52,000 sq ft industrial estate located two miles south of Leeds city centre.
Aureon and Caisson iO intend to grow the portfolio to a gross asset value of £300m over the course of the next 12-18 months through further targeted acquisitions.
Andreas Rentsch, principal of Aureon Partners, said: “We are delighted to be partnering with Caisson iO again on the launch of our UK MLI platform. This strategy is a compelling example of our thesis-driven approach to investing. Through our platform model, we will offer institutional investors differentiated exposure to this asset class with a very attractive risk-return profile”.
Tim George, managing director of Caisson iO, added: “Light industrial assets continue to offer resilient cash flows, a diversified tenant base and attractive relative value. These acquisitions align with our objective of delivering robust, resilient income and strong risk adjusted returns for our investors. Through partnering with Aureon on this strategy, we will look to capitalise on the growth trajectory of the UK MLI sector”.
Aureon and Caisson iO were advised by Knight Frank (Weston Industrial Estate), Cushman & Wakefield (Metro Park), Gowling WLG and Womble Bond Dickinson. ACRE advised the vendor on Weston Industrial Estate and CBRE advised the vendor on Metro Park.
