A joint venture formed by New York-based Westbrook Partners and Chicago-based Jones Lang LaSalle has completed an off-market portfolio acquisition of 20 properties in the United Kingdom, valued at $530 million. The portfolio includes 10 office buildings, five distribution warehouses, four retail centers and one leisure complex.
Representing the purchaser, Jones Lang LaSalle sourced and assembled the property portfolio and arranged. The portfolio is secured with 66% of income in excess of 15 years, and was acquired from five undisclosed companies. New York-based Lehman Brothers and German bank HVB financed the deal.