Industrials REIT is the UK's leading specialist of multi-let industrial (MLI) estates.
Industrials REIT is the UK's leading specialist of multi-let industrial (MLI) estates. Here's how our story has developed over the past decades.
- 1995
Paul Arenson joins the Stenham Group
with a remit to establish a real-estate fund business. - 2000
Stenham Property, the property fund management business of the Stenham Group
established by Paul Arenson, reaches £100m of properties under management.
- 2007
Funds under management passes £2bn
with over 2,000 private client investors.
Patsy Watson joins as Finance Director. - 20092012
Focus shifts to Central London offices
with seven buildings added to the funds under management over the period.
- 2013
Stenham Property merges its Berlin Residential fund
with listed company ADO Group in return for a 28% stake. - 2014
GoGlobal Properties, a listed vehicle with a historic portfolio of £27.5m of assets,
acquires c.£600m of additional assets from funds managed by Stenham Property, together with the Stenham Property management business. GoGlobal becomes Stenprop Limited, with Paul becoming CEO and Patsy CFO.
- 2017
Stenprop acquires the Industrials.co.uk portfolio,
then 25 MLI estates, along with the C2 Capital management team founded by Julian Carey.
- 2018
Stenprop announces plans to focus on UK MLI estates;
in May, it converts to a UK REIT and in June, it lists on the specialist fund segment of the London Stock Exchange.
- 2019
42.7% MLI
UK MLI acquisitions:
Total: £103.6m
Nine transactions
30 MLI estates
1,683,966 sq ft of MLI spaceNon-MLI disposals
Total: £249.3m - 2020
58% MLI
UK MLI acquisitions:
Total: £38.8m
11 transactions
10 MLI estates
504,137 sq ft of MLI spaceNon-MLI disposals:
Total: £144.3m - 2021
92% MLI
UK MLI acquisitions:
Total: £91.5m
14 transactions
13 MLI estates
1,089,037 sq ft of MLI spaceNon-MLI disposals
Total: £79.5m - 2022
Transition complete to become 100% MLI
- 2023
2023
Industrials REIT is acquired by funds managed by Blackstone in a deal which completed on 20 June 2023 for a total enterprise value of over £700 million
Paul Arenson steps away as CEO, remaining as a strategic adviser to the business, with Julian Carey promoted to Chief Executive Officer of Industrials REIT.
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