LONDON—Cornerstone Real Estate Advisers, working on behalf of two clients, has acquired three light industrial assets – Monkspath Business Park in Solihull, Evolution in Sheffield and Kingston Bridge in Glasgow – comprising over 570,000 square feet in three separate deals totaling around $52 million (£35 million).
Cornerstone is one of the world's 10 largest real estate investment advisors with $38.9 billion assets under management. These acquisitions bring Cornerstone's UK light industrial portfolio to a total of around 2.5 million square feet and represent part of its on-going investment program into this sector. Cornerstone aims to take advantage of both the attractive income yields and the opportunities to create value through active management that are currently available in the sector by utilizing its in house team's stock selection and specialist asset management skills.
Monkspath Business Park in Solihull
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
