Farran Investments is closing in on the £193 million acquisition of a UK industrial portfolio comprising mainly multi-let estates.
The real estate investment and asset management firm has exchanged contracts on the acquisition of the assets for its Apex platform, which would have a gross asset value of more than £800 million after the deal completes.
It is understood that Farran is buying a 2.5 million-square-foot portfolio from private equity real estate investor Paloma alongside its joint venture partner GoldenTree Asset Management, while the Bank of America is providing the senior financing.
The portfolio is made up of 191 units across 20 industrial estates and includes 16 multi-let estates. There are also four single-let properties. The group said it plans to "enhance income and capital values through targeted asset management", but did not disclose any details of the individual assets.
Simon Lee, partner and co-founder of Farran Investments, said in a LinkedIn post: "Multi-let industrial remains one of our highest conviction sectors, with resilient occupier demand and constrained supply driving high occupancy levels and robust rental growth."
The deal would increase the footprint of its Apex platform to circa 7 million square feet across more than 500 units. It manages the portfolio on behalf of GoldenTree and is a minority co-investor in the acquisition vehicle.
It will be the latest acquisition by the joint venture partners, who also bought a portfolio of principally UK industrial assets from an undisclosed open-ended fund understood to be a CBRE Investment Management mandate in April. That portfolio comprises 34 commercial properties, totalling 97 units, with 87% of the assets being industrial/logistics schemes, with the remaining 13% used for retail.
Farran and GoldenTree launched Apex with the acquisition of the entire share capital of abrdn Property Holdings, a wholly-owned subsidiary of Aberdeen Property Investors for £351 million. They also bought Lakeside Retail Park in Essex the portfolio in March 2025, paying Landsec £114 million.
Newmark acted for Farran and GoldenTree.
