Swedish residential investor Akelius has bought the 211-flat Hampstead portfolio for £84m.
It bought 15 buildings from a private family investor who had assembled the portfolio over the past decade.
It has a net rent passing of £3.4m, but an ERV of £3.7m, giving a yield of 4.4%
Most of the properties are located in Hampstead and were built in the early 1900s.
Five purpose-built blocks house 106 of the flats, while a further 96 are in eight converted period townhouses.
| District | Properties | Flats |
|---|---|---|
| Hampstead | 10 | 127 |
| Southgate | 1 | 46 |
| Crouch End | 1 | 17 |
| Finchley | 1 | 12 |
| Belsize Park | 2 | 9 |
Akelius first announced its intention to break into the UK residential market in 2011 and has since built a portfolio of 1,573 units.
Savills advised the vendor.
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