M&G Real Estate has acquired Bedfont Lakes office park, near Heathrow airport, from Aberdeen Asset Management for £167m ($262m).
Bedfont Lakes is home to a number of national and international companies such as BP, Birds Eye Iglo, Targus and Stratus Technologies.
A week ago M&G Real Estate sold Apex Plaza, an office building in Reading, Berkshire, to Legal & General for close to £90m ($140m) (IAR, 5 May, L&G set to buy Reading office building).
At the beginning of the month, M&G Real Estate signed a deal with Crest Nicholson, a listed house builder, to purchase 97 new private rental homes in Bath Riverside in the west of England. M&G Real Estate will provide £25.2m to fund the development of the homes and supporting community space, which form part of the wider Bath Riverside regeneration scheme within Bath city centre.
M&G Real Estate is the real estate fund management arm of M&G and one of the top 25 real estate fund managers in the world by assets under management (over £21.4bn as of 31 December 2014).
M&G itself is the investment arm of Prudential Plc in the UK, Europe and Asia.