Heitman LLC (“Heitman”), a global real estate investment management firm, and its operating partner Addington Capital, the specialist UK investment and property asset management business, announced today the acquisition of two contiguous, freehold residential blocks in the West End of London.
The Marylebone-located 61-130 Miles Buildings, London NW1 were acquired in connection with Heitman’s global core-plus investment strategy.
The two freehold residential buildings are comprised of 70 units, mostly one-bedroom apartments, spanning approximately 28,000 square feet of living space across five floors. The properties are situated within a rapidly developing area of Zone 1 London, which provides convenient access to four Underground train lines available within a two-minute walk of the property.
Caleb Mercer, Heitman Managing Director of European Real Estate Investment said: “London’s long-term demographic outlook, supply constraints, highly diversified economy, and rapidly recovering demand following pandemic-related lockdowns make well-located residential properties a compelling investment opportunity. The acquisition of the Miles Buildings represents our continued confidence in the UK, and more broadly Europe’s alternative real estate sectors. Specifically, the living sectors (rented-residential, senior housing, and student housing) continue to deliver resilient cash flows and delinked, demographically-driven demand despite today’s economic volatility.”
You can now read the full press release at the link below