Private equity real estate investment firm Castleforge Partners has expanded its UK operation with the acquisition of four office spaces across England, including a site in Southampton.
Castleforge has purchased Mountbatten House in Southampton, Broadwalk House in Exeter, as well as Yorkshire House in Leeds and Linley House in Manchester.
The four sites together hold a gross development value of over £175m.
The investment comes as Castleforge looks to expand its foothold in the UK's secondary cities which the firm has identified as having potential to grow as national and regional business hubs.
The four cities also all contain internationally renowned universities and growing populations of young working professionals.
The firm, which closed its most recent real estate fund at over £270m, plans to use its flexible workspace provider Clockwise to provide a positive experience for occupants as well as generating attractive returns for its investors.
Through Clockwise, Castleforge plans to meet the increasing demand from companies in the four cities for alternatives to traditional fixed-term office space leases.
Brandon Hollihan, founding partner of Castleforge Partners, said: "Select secondary cities in the UK are continuing to grow as business hubs for young professionals and exciting start-ups. We are thrilled to be contributing to these vibrant professional communities in every corner of the country.
"Moving forward, for many companies flexibility is going to be key when it comes to office space leases. Through our flexible workspace provider Clockwise, we are very well positioned to offer this type of bespoke service to our members."
Source: Insider Media Limited