Karlin expands UK real estate portfolio with two acquisitions
Karlin Real Estate has added to its UK commercial portfolio with the acquisition of a distribution building in Ellesmere Port and an office building in Solihull in transactions totalling approximately GBP18m.
Karlin acquired Phoenix, a 405,365 square-foot industrial building leased to Jaguar Land Rover, from property fund manager Highcross.
Built in 2001, the building is situated on a secured 21-acre site. The property is located within the Hooton Park Supplier Park along River Mersey and is served by the Port of Liverpool. Knight Frank represented Karlin and Cushman & Wakefield advised the seller.
In a separate transaction, Karlin acquired the freehold interest in Earlswood Court, a modern two-story 41,363 square-foot commercial office building in Solihull near Birmingham, from Helix Property Advisors. Since being constructed in 2002, the building has been occupied by The Paragon Group of Companies, a UK based consumer finance and mortgage lender. CBRE Birmingham represented Karlin and Fineman Ross advised the seller.
“These are well located institutional quality properties in strengthening secondary markets that share a similar investment profile to assets we hold in the US,” says David A Cohen, Karlin Real Estate co-founder and chief executive of Karlin Asset Management. “Additionally, we are very excited about the prospects and growth our new tenants are experiencing.”
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