KWSP Buys Mega UK Property Portfolio
Posted on 04/05/2016
Malaysia’s Employees Provident Fund (EPF), also known as KWSP, acquired a portfolio of U.K. office and logistics properties called Project Phoenix. This is one of the largest portfolio sales in the U.K. to finalize this year. The portfolio was acquired by CBRE Global Investors on behalf of KWSP for nearly £200 million from IM Properties. IM Properties were advised by CBRE. The portfolio contains 18 assets located from west London to the Midlands, totaling 2 million square feet. Some tenants are Severn Trent, Ocado, and UPS. The deal represented a blended yield of close to 5.25%.
Keywords: Malaysia Employees Provident Fund, KWSP.