A 55 per cent shareholding in nine regional office buildings worth in excess of #120 million - including Birmingham landmark building Centre City - has been acquired in a joint venture between Patron Capital Partners and Princeton Investments from Delek Brown International.
The partnership was arranged by Birminghambased agents Grenville Smith & Duncan, which acted on behalf of both Patron and Princeton.
The principal assets, located in Croydon, Manchester and Sheffield, as well as Birmingham, comprise some 450,000 sq ft, which will be actively managed and improved through a programme of rebranding and released to the market.
Centre City, the 200,000 sq ft regional offices of Legal and General Insurance, is the largest of the office schemes.
The remaining two buildings ? Sheffield?s City Plaza and SinChem House in Manchester ? total a further 190,000 sq ft.