Riverside Capital’s most recent property exit, a portfolio of 33 trade counter units let to Travis Perkins plc, has achieved a 1.5x equity return to investors over 4.5 years.
The portfolio was sold to Cordatus for £45.35m, reflecting a net initial yield of 5.35%.
Riverside Capital jointly secured the opportunity for its investors in a JV in 2014. The investment opportunity was to capitalise from the income growth provided by a highly secure, low-risk tenant and 5 yearly rent reviews.
After selling two assets within the portfolio separately at a premium last year, the remaining portfolio has now been sold after capturing income and value growth.
Sasha Stupar, Director at Riverside Capital said: “This sale concludes another good investment for our investor base. The opportunity was able to deliver on the ongoing appetite for income, paying a dividend throughout the hold period and returns on exit, providing a strong overall return.”