Freeman News - January 15, 2007
The London office of Hines announced today that the Hines Pan-European Core Fund has signed a sale/leaseback agreement with Cadbury to acquire its distribution center, Midpoint Park, in Minworth, Birmingham, for approximately £31.5m. The acquisition represents the fund’s first UK purchase, and the second for the fund. In 2006, HECF acquired a seven-story office building at Uptown München in Munich.
Midpoint Park is integral to Cadbury’s national logistics operation. The project comprises a 400,000 sq ft, high-bay distribution warehouse located in one of the leading distribution parks in the country. Hines was advised by Strutt & Parker in the negotiations, while Cadbury Ltd. was represented by Cushman & Wakefield Healey & Baker.
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Wednesday, January 17, 2007
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