A trio of office buildings in Solihull have been acquired for £9.7 million.
UK office investor Hillview Real Estate has bought the three adjacent blocks at Kings Court, on Birmingham Business Park, from Catalyst Capital.
The three buildings comprise six, self-contained units totalling 51,503 sq ft in a range of suites.
This buyout was the first by London-based Hillview from its new £300 million UK regional office fund which was announced last month.
Nadav Livni, founder of Hillview Group and fund manager of Hillview Real Estate, said: "Kings Court is an excellent first acquisition for our new fund, providing exactly the sort of opportunities for us to add value from upcoming lease events, refurbishment of units and regearing leases.
"The acquisition of Kings Court is in line with our long-held strategy of investing in well-located, multi-tenanted, institutional-quality properties in key cities and regions.
"This has been a major factor in us collecting more than 98 per cent of the rent from our existing portfolio since lockdown began and illustrates the resilience of our focused approach."
Birmingham Business Park has a total of 1.84 million sq ft over 148 acres close to the M42.
