Acquisition of pub portfolio for major US fund

Acquisition of pub portfolio for major US fund

July 16, 2013

Coffer Corporate Leisure has completed the acquisition of a portfolio of pubs on behalf of a major fund.

The unnamed investor is a very large fund with assets in excess of US$3 billion. It is their first direct property investment foray into the leisure sector although they have backed businesses in the sector in the past.

The identity and terms of the deal are subject to strict confidentiality agreements. The transaction comprised a portfolio of high quality food led pubs subject to long leases to a secure listed company. The properties are all in excellent locations throughout the UK.

Coffer Corporate Leisure are instructed to acquire other leisure assets on behalf of the fund from single asset sizes to portfolios with a lot size of £1 million to £200 million +.

Mark Sheehan Director of Coffer Corporate Leisure said: “Although the terms of the transaction are highly confidential, this large portfolio acquisition further demonstrates the ever increasing appetite for leisure assets in the regions. This is the third portfolio transaction we have completed this year with a total deal size over £100 million. We expect to observe more transactions of this ilk in the near future.”

“Leisure is an attractive asset class. It offers long leases, relatively transparent trading and properties which remain in the same use for hundreds of years.”