Copley Point Capital, an asset management and investment firm owned by its management, and joint venture partner Sixth Street have bought two distribution hubs in the UK for £115 million from Tritax Group.
Copley's new joint venture with Sixth Street, advised by Kimmre, has bought Next's distribution hub in Doncaster from Tritax Group for £73 million. Tritax Big Box REIT bought the 861,630-square-foot hub at West Moor Park, Doncaster in 2014 for £60 million.
Separately Copley and Sixth Street has bought the Expert Logistics hub at the Omega Building on the Weston Road in Crewe for £42 million from Tritax. The 387,666-square-foot distribution hub was built in 2016.
Founded in 2019, Copley Point is a specialised principal investor and asset manager of UK real estate and related real assets. It manages more than £500 million of assets through a series of joint ventures and platforms alongside institutional investors. The firm’s UK industrial property platform, Block Industrial, specialises in mid- and large-box deals. Since the platform was founded in 2020, it has partnered with groups including Brookfield and Davidson Kempner.
In November, Sixth Street, the global investment firm, joined forces with Copley for a joint venture targeting UK industrial, saying it had reached agreements for £180 million of initial investment but did not disclose the assets.
Tritax's total portfolio value as at 31 December 2024 was £6.5 billion, against £5 billion at 31 December 2023. Shortly after the period-end, it announced a first major data centre development opportunity and data centre pipeline, as reported.
DTRE represented Tritax on both transactions. Kimmre advised Copley Point and Sixth Street on the acquisition of the Doncaster hub.
(Updated on 17 February to add property was for joint venture and to add second property).