DALLAS--Dallas-based Lone Star Real Estate Fund III has entered into an off-market agreement with U.K.-based Moorfield Real Estate Fund (MREF) and Moorfield Real Estate Fund II (MREFII) to purchase a $1.5 billion (1 million pound) diversified real estate investment portfolio.
The portfolio comprises both retail and office as well as hotels, residential and student housing. Moorfield Group (Moorfield) will continue to have a role as asset manager, alongside Hudson Advisors, to ensure there is continuity of asset management initiatives, asset knowledge and stakeholder relationships.
Reps for Lone Star declined to comment further on the deal.
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