UK: Gatehouse Bank acquired a GBP59.9 million (US$92.7 million) commercial complex in the city of Aberdeen in Scotland.
The property, which is occupied and fully let to oil and gas firm Petrofac, is expected to yield an average annual cash return of 7.5% over a three-year period.
“The Aberdeen office market has seen a greater take up of space last year than any other key regional centre outside the southeast; and is likely to remain buoyant for the foreseeable future,” said Adam Cavanagh, the head of real estate at the bank.