Europa seals £95m JV with Ediston

The London-based private equity real estate firm and the Edinburgh-based property company have already made a £20 million acquisition from the joint venture.

Europa Capital, the London-based private equity real estate firm, and Ediston Real Estate, a Edinburgh-based property and asset management company, have teamed up to invest £95 million ($141 million; €133 million) in retail warehouse and office properties in the UK.

The pair have already completed the acquisition of Pasteur Retail Park, Great Yarmouth, for £20.6 million from a company managed by London & Capital. Pasteur Retail Park comprises 122,000 square feet of retail warehouse space with tenants including DIY retailer B&Q, discount retailer Home Bargains, national pet store Pets at Home and retailer Argos, along with one vacant unit.

“We are delighted with this quality asset which provides solid income and a number of asset management opportunities. Ediston are an experienced partner with whom we can create value through selective purchases and active asset management,” commented Robert Sim, partner and head of northern Europe at Europa Capital.

Europa Capital and Ediston Real Estate were represented by Stockford Staunton and Morgan Williams. London & Capital were represented by Wilkinson Williams.

The firm, established in 1995, operates across Europe and has collectively raised seven real estate funds and committed to over 80 transactions totalling approximately €8 billion across 18 European countries. In July 2014, the firm raised €600 million for the fourth in its series of pan-regional opportunistic funds, the first opportunity fund closed by the firm since the Rockfeller Group acquired a majority stake in it in the year 2010.