Lone Star buys 16 UK properties from SJP

Investment firm Lone Star, through an affiliate of its Real Estate Fund VII, has completed the acquisition of a real estate portfolio from UK wealth manager St. James’s Place (SJP) and its related trusts. 

Logistics

The portfolio includes 16 premium UK properties, including multi-let industrial (MLI) units, retail spaces, and offices. 
The largest portion consists of ten MLI assets, primarily located in Greater London and South East England, benefiting from proximity to key transport and industrial networks, ideal for last-mile delivery and regional distribution. The office properties are all in London, while the retail assets are high-quality warehouses with stable tenants. 
Lone Star plans to actively manage and invest in these properties to further enhance their institutional quality.
Jérôme Foulon, global head of Commercial Real Estate at Lone Star, said: “The MLI sector is an area that Lone Star has been investing in over the last twelve months with strong conviction. We believe there is significant potential in this part of the market as tailwinds in storage and distribution continue to drive demand for corporate leasing.” 
Jeremie Goldsztain, senior managing director and head of Europe Real Estate at Lone Star, commented: “We see tremendous value in this portfolio of high-quality assets. As an investor in holistic, mixed-use portfolios, we believe this opportunity includes great diversification of key retail, office and industrial properties that offer substantial upside given their locations.”
Andy Rofe, managing director Europe, Invesco Real Estate, added: “We are immensely proud that SJP entrusted Invesco Real Estate earlier this year to lead the successful sale of their real estate portfolio on the basis of our 30+ years’ experience and deep knowledge of the UK transactions market. To have facilitated the disposal of 16 diverse and high-quality assets from the full portfolio is a fantastic achievement and milestone for our client.”
Invesco Real Estate was advised by CBRE, while SJP received advice from Invesco Real Estate.