UK’s BMO Property buys 5 assets for $51 mln, boosts property exposure

BMO Property Growth and Income Fund, a UK investment fund managed by BMO Global Asset Management, has boosted its property exposure by 26 percent of its total portfolio.

BMO Property Growth acquired five assets across the Midlands and South East of England, for a total of 40 million pounds ($51 million). The purchases include offices in Croydon and Windsor and industrial units in Harlow, Leamington Spa and Tunbridge Wells.

Leamington Spa, Tunbridge Wells and Windsor properties have fixed rental uplift approvals and are linked to the retail price index while providing stable long-term income for BMO Property Growth.

BMO Property Growth revealed that these transactions are in line with its the strategy, to continue increasing its physical property exposure by $31 million to $176 million and demonstrate its progress in reducing some of its positions in smaller assets.