Location: UK, various
Acquisition Date: Nov. 2004
Purchase Price: £78.5m
Equity: £12.25m
Portfolio: Mixed (46 properties)
Status: Acquired, ongoing
Our objective was to identify stock at wholesale price to sell at driven value and secure assets with strong cash flow to attract leverage that protects the downside position while maintaining exposure to the upside. We re-financed within the first two years to return a substantial amount of equity invested and improved both management and presentation of the stock.