Patrizia Immobilien AG's Rockspring Property Investment Managers LLP invested £54 million in three individual property transactions across the U.K., comprising two office assets in London and a Holiday Inn hotel in York City, according to Property Funds World.
The acquisitions reflect a combined net initial yield of just under 5%.
The company acquired the fully leased 64,000-square-foot Mott MacDonald House in Croydon, London, for £21.2 million from Aviva Investors and the fully let 23,158-square-foot warehouse-style Bath and Cayton building near Old Street Underground Station from City University of London for £17.3 million.
The 148-room Holiday Inn in York City was acquired for £15 million from Quidnet Capital and Colony NorthStar Inc. The asset is let to hotel operator Kew Green.
