L&G builds up managed fund portfolio to £3.8bn

Legal & General has expanded its managed fund investment portfolio to £3.8bn, following a string of deals totalling £150m. The fund’s deals cover the office, retail, leisure and industrial sectors and total more than 600,000 sq ft. They include the purchase of 20,821 sq ft of offices at 45 Folgate Street, E1 (pictured), for £26.8m and a major mixed-use block on Jubilee Street in Brighton’s city centre. This is in addition to the recent purchase of the 400,000 sq ft Porto portfolio, comprising six freehold multi-let industrial estates across the East, South East and South West of England. Rob Codling, senior fund manager at LGIM said: “Acquisitions of prime assets across the offices, logistics and leisure sectors falls in line with the managed fund’s strategy of increasing weightings in these markets. 45 Folgate Street, Jubilee Street, and the Porto Portfolio are exemplary demonstrations of the high-quality investments LGIM Real Assets is pursuing.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews