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Agreement signed

BARWOOD Capital, the Northampton-based real estate investment business, has signed an agreement with Caisson Investment Management (Caisson) to acquire and asset manage a multi-let industrial (MLI) estate portfolio for Barwood Capital’s 2017 Property Fund.

The 2017 Property Fund closed in March 2018 with the ability to invest up to £150 million in UK regional property. Barwood Capital has committed up to £15m of equity for Caisson to target MLI estates across the UK, with an estate size of between 10,000 square feet to 50,000 square feet, up to 50 units, and a target lot size of between £2m and £6m.

Caisson has already identified a pipeline of opportunities, with offers having gone out.

Estates will be targeted for their asset management potential with vacancy levels of no less than five per cent and up to a maximum of 50 per cent in quality urban or edge-of-urban locations, including those older estates with the potential for regeneration and refurbishment. Caisson and Barwood Capital will look to substantially increase the rental income and capital values through active asset management, including capital expenditure, tenant retention, development where possible, and reducing vacancy levels.

Companies mentioned in this article

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