Cabot Properties Inc. has completed the off-market acquisition of a 150,000 sq ft prime logistics unit at Stirling 150 in Solihull from a private investor.
Cabot Properties Inc, which is based in Boston, Massachusetts, paid £8.55 million, reflecting a net initial yield of nine per cent for the asset, which is let to DHL for a further three years.
Justin Harvey, Vice President at Cabot Properties Inc said: “This acquisition continues the expansion of our activities in the UK industrial sector and is in line with our strategy of investing in high quality assets in strong locations with attractive yields and we look forward to adding to our portfolio in the near future.”
Colliers International advised Cabot Properties Inc.