Europa Capital is in pole position to buy the Arlington Business Parks Partnership, which comprises a number of business parks across the UK, for significantly in excess of the £475 million guide price.
Goodman and Legal & General Property brought to market the remaining UK office campuses in their Arlington Business Parks Partnership fund seeking offers in November via Strutt & Parker and Cushman & Wakefield.
Europa is understood to have seen off Fortress Investment Group. Other parties to have bid include Tristan Capital, XLB with Harbert, Ares and Greenoak.
The assets are:
ABPP was launched by Legal & General Property and Goodman in 2003 to invest in, develop and manage business parks across the UK, with good accessibility to large metropolitan areas. At the end of December 2011, ABPP was valued at £1.1 billion.
At that stage the fund comprised 20 business parks throughout key regional UK office markets, with a geographic weighting bias towards the South East.
Credit: CoStar
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