LONDON, UK—Valad Europe, a leading independentdiversified real estate investment manager, has acquiredfive UK properties for a total of approximately$161 million (£100M) on behalf of itsValad European Diversified Fund (VEDF) and isundertaking a number of value-add asset management initiatives onthe newly acquired assets.

Imperial Place, a 222,450 sq ft campus-styleoffice complex in Borehamwood, just north ofLondon, was purchased for $63.3 million (£39.3M),reflecting a net initial yield of 8%. Since completion, the asset'svacancy rate has been reduced by 2.5% withArtsana, the manufacturer and distributor of babyand health and beauty care products, signing a new 10 yearlease on 5,713 sq ft of space. ImperialPlace will be Artsana's new UK headquarters, which theywill occupy alongside existing tenants including PizzaHut, Signet Trading and JustEat.

Five Ways Leisure Park inBirmingham was purchased for $56 million (£34.7M),reflecting a net initial yield of 8.1%. It comprises two buildingstotalling 199,702 sq ft and is Birmingham city center's dominantleisure park. Anchored by a 12-screen Cineworldcinema, the Park is let to 12 tenants includingGrosvenor Casinos, Pure Gym, Inventive Leisure, Nando's,Shimla Pinks, Gatecrasher and Euro CarParks.