Valor Industrial Partners 2 (VIP2) has acquired a portfolio of nine logistics assets in and around Greater Manchester and a further asset in Beckton, East London.

Totalling 450,000 sq ft the assets are in the Greater Manchester area. Three assets are located within Trafford Park; a further three are located around the southern periphery; two are situated in Warrington, and the remaining asset is positioned further north along the M60 motorway. VIP2 is an investment partnership between Valor Real Estate Partners and AIG Global Real Estate.

In addition, Valor has acquired a 40,000 sq ft asset in Beckton, East London.

Christian Jamison, managing partner of Valor said: “I am delighted to announce further acquisitions in the UK. Both are great examples of the attractive deals we are seeing in the market. In addition, the successful refinancing of three of our assets provides us with further flexibility to capitalise on the exciting pipeline of deals we are seeing both in the UK and European logistics markets and to continue expanding our portfolio.”

Valor has also announced a £21m refinancing of three assets in Beckton, Crawley and Ashford by extending its existing Deutsche Pfandbriefbank debt facility, established in October 2017.