Hansteen acquires seven multi-let offices and portfolio of five industrial estates
Client(s) Hansteen UK Industrial Property Unit Trust II
Jones Day advised Hansteen UK Industrial Property Unit Trust II in connection with the acquisition and related financing of a portfolio of seven multi-let offices and a portfolio of five industrial estates with a combined purchase price of £36.2 million (US$57.9 million). The financing consisted of a further drawdown under their existing credit facility arranged by The Royal Bank of Scotland plc.
The office portfolio comprises seven multi-let offices, predominantly located in the south east of England, the largest of which is in Woodford Green, less than half a mile from the interchange of the North Circular and M11. The other assets are located in Witney, Bury, Coventry, Chesham, Stevenage, and Waterlooville.
The industrial portfolio comprises of four estates in South Wales and one in Narborough, Leicestershire, close to Junction 21 of the M1.