Invista Canmoor Active Industiral Fund has bought five industrial estates for £35.5m and refinanced a further three with Royal Bank of Scotland.
The refinancing also provides headroom for the fund, which was set up in 2004 and currently owns eight estates providing around 1.4m sq ft, to support future acquisitions.
Martin Smith, managing director, Canmoor Asset Management, said: ‘This transaction enables the Fund to accelerate its growth by recycling capital from existing assets as well as through acquisition. In-line with ICAIF’s continuing expansion strategy, we believe the coming months will present some interesting buying opportunities.
'The Fund is now in a strong position to allow it to move quickly when we see attractively priced properties that match our requirements.’
DTZ and Hinks Associates advised on the refinancing.