Hines, the international real estate firm, is pleased to announce that Hines Global Income Trust, Inc. (“Hines Global”) has acquired the Royal Mail sorting warehouse in Edinburgh from RPMI RailPen for around £25m.
The 215,745-square-foot facility, occupied by Royal Mail, is located on Edinburgh’s Sighthill Industrial Estate adjacent to Hermiston Gait Retail Park to the west end of the city. The property serves as the collection and sorting point for all mail from the east side of Scotland and employs over 700 people on site.
The acquisition marks the third investment in UK logistics assets by Hines Global in 2019. Hines Global acquired a 139,387-square-foot asset in Milton Keynes, occupied by men’s clothing retailer Charles Tyrwhitt, and a 270,248-square-foot distribution facility in Bristol, occupied by DSG Retail, in November 2019.
Hines Global is a public, non-listed real estate investment trust sponsored by Hines. It commenced operations in 2014 and invests in commercial real estate investments located in the United States and internationally.
Source : Hines Global