London-based real estate investment manager M&G Real Estate, a unit of equity and fixed income funds manager M&G Limited, has purchased circa 30 million pounds ($38.8 million) of new acquisitions for the M&G UK Enhanced Value Fund.
Of acquisitions, includes a multi-let, modern office building in Uxbridge town centre and Phase 3 Merry Hill Retail Park in Dudley, a regionally dominant retail park in the West Midlands.
Both assets provide immediate active management opportunities to enhance income profiles through new tenants and capital repositioning.
The deal, bringing the total invested to more than $142.3 million, also supports the fund’s strategic investment themes of urbanisation, regeneration, connectivity and e-commerce.