Tenants include Amec, the London Borough of Croydon, Allied Irish Bank and Sharps Bedrooms, producing an annual rent of £1.235 million ($2.15 million). The transaction reflects a net initial yield of around 10%.

Peter Gubb of Highcross says: "Given that the first close was only two months ago, we are delighted at the progress so far, having acquired £90 million ($156 million) of property on behalf of the fund. This is a great start and we are delighted with the number and quality of deals that are being offered to us that provide opportunities to add value."

Highcross was represented by de Morgan & Co. Atis Real Weatheralls represented Cassini Investments, a client of HDG Mansur.

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