Lone Star Funds has finalized the purchase of a substantial multi-asset real estate portfolio from St. James’s Place and its Property Unit Trust and Life and Pensions Trust, marking one of the firm’s notable property acquisitions this year. St. James’s Place was advised by Invesco Real Estate, which managed the disposition process on its behalf.
The transaction was completed through an affiliate of Lone Star Real Estate Fund VII, L.P. The portfolio includes 16 properties across the United Kingdom, spanning multi-let industrial, retail, and office assets. The multi-let industrial collection is the largest segment, consisting of ten properties concentrated in Greater London and South East England, offering connectivity to significant logistics and transportation corridors that continue to attract demand from last-mile operators and regional distributors.
The office assets are all located within London, while the retail segment comprises high-quality retail warehouses supported by stable tenant rosters. Lone Star intends to execute an active asset management approach aimed at enhancing the institutional quality and long-term value of the properties.
Invesco Real Estate, which facilitated the portfolio sale for SJP, highlighted the transaction as a milestone in its wealth management and advisory work. CBRE served as advisor to Invesco Real Estate for the deal.
KEY QUOTES:
“The MLI sector is an area that Lone Star has been investing in over the last twelve months with strong conviction. We believe there is significant potential in this part of the market as tailwinds in storage and distribution continue to drive demand for corporate leasing.”
Jérôme Foulon, Global Head of Commercial Real Estate at Lone Star
“We see tremendous value in this portfolio of high-quality assets. As an investor in holistic, mixed-use portfolios, we believe this opportunity includes great diversification of key retail, office and industrial properties that offer substantial upside given their locations.”
Jeremie Goldsztain, Senior Managing Director and Head of Europe Real Estate at Lone Star
“We are immensely proud that SJP entrusted Invesco Real Estate earlier this year to lead the successful sale of their real estate portfolio on the basis of our 30+ years’ experience and deep knowledge of the UK transactions market. To have facilitated the disposal of 16 diverse and high-quality assets from the full portfolio is a fantastic achievement and milestone for our client. Our relationship with SJP further underscores the continued growth of our wealth business and our ability to create and deliver bespoke solutions for the specific needs of the wealth industry. We remain dedicated to delivering value and strategic guidance to our wealth clients in an evolving market landscape.”
Andy Rofe, Managing Director Europe, Invesco Real Estate
