Listed Birmingham business Real Estate Investors has snapped up a pair of West Midlands properties for £7.12 million.
The AIM-listed company has bought 25-26 Dudley Street in Wolverhampton city centre from the Irish National Asset Management Agency.
It is let to River Island with an annual rental of £276,200.
REI has paid £2 million for the 9,418 sq ft building and the lease is due to expire in March, with the new owner in discussions with the occupier about renewing the lease.
In Coventry, REI has acquired a multi-let office scheme in Brandon Court (below) on Leofric Business Park in Binley.
It is let to Jaguar Land Rover supplier Yazaki Europe, Chubb, Minitab and Saint-Gobain Building Distribution.
REI paid £5.12 for the 33,566 sq ft building which produces an annual rental of £454,162 and also includes a parcel of land for potential expansion.
Chief executive officer Paul Bassi said: "These properties are excellent additions to our growing portfolio and both acquisitions provide immediate income and asset management opportunities that have the potential to provide capital growth.
"These acquisitions contribute to a record annual contracted income that will provide the foundation for further dividend growth, in line with the company's stated progressive dividend policy.
"We have enjoyed an excellent year in which we will have secured record gross property assets.
"Our market reputation, available capital and banking facilities, will allow the company to capitalise on market opportunities in 2016."
Law firm Clark Brookes Turner Cary acted for REI.