A joint venture (JV) partnership has purchased a former automotive component manufacturing site in Erdington, Birmingham, to speculatively build 300,000 ft2 (28,000 m2) of Grade A urban logistics and industrial space.
Empira Group, the €9bn AUM Swiss-based real estate investment company, has raised over $120 mln so far towards a $600 mln (€558 mln) fund target for a US vehicle.
