Contact:
Stephen White
+44 (0)207 743 1299
|
21 August 2013, London
– The BlackRock UK Property Fund has completed the acquisition of the Bedfont
Industrial Estate from Trehaven Group for £24 million.
The 17 acre site is
located one mile to the south of Heathrow Airport and the BA World Cargo
Centre. The Estate is currently operated as an open storage site but has
planning permission for redevelopment to provide 300,000 square feet of
industrial/distribution accommodation. BlackRock was advised by Tudor Toone,
Doherty Baines and Graftongate.
Justin Brown,
Portfolio Manager for the BlackRock UK Property Fund, said, “The Bedfont
Industrial Estate is a well located site with a significant number of options
for the Fund to pursue in the forthcoming months. We are excited about the
prospects for its future performance within the BlackRock UK Property Fund.”
The BlackRock UK Property Fund invests in a diversified mix of real
estate including traditional and alternative property assets. In May, BlackRock
(NYSE:BLK) announced it has entered into a definitive agreement to acquire
MGPA, the independently-managed private equity real estate investment advisory
company in Asia-Pacific and Europe. The planned acquisition will make BlackRock
a global real estate investment manager, with pro forma assets under management
of approximately $25 billion as of March 31, 2013 and substantial investment
teams in the world’s top six markets.
Ends
For further
information please contact:
Stephen White,
EMEA Media Relations, BlackRock
+44 (0) 20 7743
1299
Tom Willetts, FTI
Consulting
+44 (0) 20 7269 7175
For further information at dohertybaines, please contact David O'Donovan
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