Paloma Capital closed on the purchase of RVB Investments for roughly £90 million, Property Week reported.
According to the report, RVB owns 32 warehouse and eight office assets that generate a total £7.1 million in rent per year, with an average unexpired lease term of 4.5 years. The assets are spread across the U.K., mainly around Birmingham and the West Midlands, with a particular concentration in Telford.
The acquisition was completed on behalf of the London-based real estate investment manager's maiden fund, Paloma Real Estate Fund I, which attracted £140 million in its final close, giving it purchasing power of £300 million.
As a result of the transaction, 90% the fund is deployed, the publication added.
