CHICAGO, IL (April 17, 2013) - Hunt Companies, Inc. today announced the acquisition of a 38,674 square-foot office building, Towry House, in Bracknell, United Kingdom.
Built in 2000, Towry House is a Class-A facility located southwest of London in Bracknell. Bracknell has successfully attracted a diverse mix of hi-tech industries, national and multi-national corporate occupiers.
The property is fully leased to Towry Services, a leading independent investment and wealth advisory firm, for 12 years term certain. The property was purchased directly by Hunt Companies reflecting slightly better than 8.5% Net Initial Yield; the asset will be managed through its UK affiliate. Acquisition debt financing was provided through Santander Bank.
Ryan Luxon, Executive Director-Capital Markets for Hunt, said: “This acquisition is aligned with Hunt’s UK strategy to secure institutional quality, modern/refurbished assets in desirable, high-income areas. We are pleased to add this asset to our international portfolio.”
This acquisition increases Hunt’s UK assets under management to more than 1.1 million square feet of commercial and industrial space.
ABOUT HUNT
Hunt Companies, Inc., headquartered in El Paso, TX, is a leading real estate company dedicated to building values through development, investment, and management. Hunt is focused in the core areas of public private partnership, housing for the US military, community development, real asset investment management and multifamily housing.
Hunt is firmly rooted in a legacy of leadership, integrity, and trust. Together, Hunt and its affiliates have more than US$17 billion in assets under management, including 144,200 multi-family housing units and 5.8 million square feet of office, retail and industrial properties. Hunt has also developed more than 89,000 housing units and thousands of acres of land. Development project costs have totaled more than US$6.3 billion with more than US$8.2 billion in construction costs.
Hunt has offices worldwide including Atlanta, Chicago, Columbia, Denver, Honolulu, Los Angeles, Memphis, Miami, New York, Philadelphia, Sacramento, San Francisco, Washington D.C. and international offices in Abu Dhabi, London and Mexico City.
Visit www.huntcompanies.com to learn more about Hunt, its heritage and commitment to values that build.
