Valad Europe has created a joint venture with the South African company Grindrod Financial Services for a new separate account mandate to build a portfolio of industrial properties in the UK, with an initial target value of €117m. The joint venture will be seeded with €58.4m worth of equity, contributed from individual private equity investors, South African institutions, Grindrod Financial Services and Valad Europe. It will be used to acquire strategic assets across the UK in lot sizes of between €5.8m and €11.7m.
“We are delighted to be partnering with Grindrod Financial Services on our latest joint venture and to further diversify our investor base into the growing South African market,” said David Kirkby, Valad Europe’s Head of Funds Management. “This further highlights the growing appetite among our investing partners who are looking for opportunities to invest equity in the UK commercial real estate market, in particular where current pricing levels offer significant potential upside and good income generation.”
