ARA EUROPE ACQUIRES 130,000 SQ. FT. INDUSTRIAL WAREHOUSE UNIT IN BIRMINGHAM
United Kingdom, 27th September 2023 – Real estate investment manager, ARA Europe, part of the ESR Group, has completed the acquisition of a strategically located industrial asset on behalf of its flagship discretionary value-add Active Fund series. The investment is a continuation of its Industrial & Logistics aggregation strategy and brings the total gross asset value deployed by ARA Europe Active Real Estate Fund V (“the Fund”) in the sector to over £30 million.
Located in the Oldbury submarket of Birmingham, West Midlands, with immediate connections onto the motorway network, the unit is let to a UK Top 10 contractor as a mission critical off-site manufacturing facility. The business plan envisions a comprehensive refurbishment of the facility to meet modern sustainability and energy efficiency standards.
The acquisition further demonstrates ARA Europe’s expertise in portfolio aggregation and value-add investment, which aims to provide investors with enhanced returns through investments with compelling yield on cost profiles and overall exposure to sectors with resilient occupational demand and rental growth.
Stuart Jackson, Head of Fund Management at ARA Europe, commented: “From June, we recommenced aggregating industrial and logistics holdings in the UK and France. Both these portfolios are shaping up very well and will form the foundation of our latest pan-European value-add fund. We are delighted to add a city fringe asset in Birmingham with an attractive yield on cost profile into our growing UK portfolio.”
NOTES TO EDITORS
For more information contact:
T +44 203 831 9700
ARA Europe Corporate Development
T +44 207 073 9350
About ARA Europe
ARA Europe is a real estate investment manager, a subsidiary of ARA Asset Management Limited (“ARA”) which is part of the ESR Group (the “Group”), APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. With approximately US$150 billion in total assets under management (AUM), our fully integrated development and investment management platform extends across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand and Southeast Asia, representing over 95% of GDP in APAC, and also includes an expanding presence in Europe and the U.S. We provide a diverse range of real asset investment solutions and New Economy real estate development opportunities across our private funds business, which allow capital partners and customers to capitalise on the most significant secular trends in APAC. ESR is the largest sponsor and manager of REITs in APAC with a total AUM of approximately US$45 billion. Our purpose – Space and Investment Solutions for a Sustainable Future – drives us to manage sustainably and impactfully and we consider the environment and the communities in which we operate as key stakeholders of our business. Listed on the Main Board of The Stock Exchange of Hong Kong, ESR is a constituent of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index and MSCI Hong Kong Index. For more information on ESR, please visit www.esr.com