Citicourt Investment Partners has secured funding from investors in New York and the Middle East for a UK investment drive.
Citicourt’s latest deal as part of its UK spending spree following its equity raising.
It has bought a £70m mixed-use portfolio from Henderson and Threadneedle. The 970,000 sq ft portfolio consists of five retail and 14 commercial properties spread throughout the UK. It put in £21m of equity, with debt provided by Abbey.
Citicourt, the co-investment vehicle set up by Anthony Browne and John English, is also finalizing heads of terms on a further £140m of property in two other institutionally-owned mixed-use portfolios.
Citicourt holds around £350m of property assets but that he had sufficient equity to grow the portfolio beyond £600m in the short to medium term.
Browne, who is chief executive at Citicourt, said: ‘We now have two clear advantages over many of our rivals, very superior access to equity, and firm commitments from our banking partners, who believe in the very high degree of professionalism and tenacity of our asset management team.’