Westbrook forms UK industrial JV

The US opportunity fund manager has partnered with a newly-formed asset management company to acquire 14 assets

Westbrook Partners has formed a joint venture with newly formed UK asset manager M7 to acquire a portfolio of industrial assets.

The joint venture vehicle, Northcreek Holdings, has bought 14 assets from UBS, the Swiss bank, it said.

The portfolio has been acquired for an undisclosed sum and consists of properties in the industrial locations of Milton Keynes, Coventry, Havant, Hayes and Totton.

M7 has been appointed the asset manager.

This the second time that a private equity real estate firm has teamed with M7, which was formed last year by senior members of Australian fund management platform, GPT Halverton.

In October it launched the Light Industrial Property Partnership with UK and European firm, Europa Capital Partners.