Addington Capital and Och-Ziff Real Estate to Buy £60 Million High Street Portfolio

11/27/2015

An affiliated investment fund of Och-Ziff Real Estate (OZRE), in conjunction with operating partner Addington Capital, is to acquire the Retail Plus Property Trust, a Jersey Unit Trust currently managed by Rockspring Property Investment Managers ("Rockspring"), for around £60 million. 

Retail Plus includes a portfolio of high street shops in twelve regional cities in the UK, including London, Cheltenham, Leeds, Newcastle, and Shrewsbury.  The purchasers' plan is to secure significant new retail lettings in an improving occupational market. Addington Capital will asset manage the portfolio.

The deal represents a new relationship between OZRE and Addington.

Steven Orbuch, President of OZRE said, “While the UK high street sector has been under meaningful pressure during the downturn, we believe there are selective opportunities within the sector that are attractive given the underlying UK recovery. In partnership with Addington Capital, we believe there are interesting opportunities to reposition and re-let certain high street properties.”

Matthew Allen, Principal at Addington Capital said, "This is an exciting deal for us, working with a new partner, and providing a platform for future acquisitions."

KLM acted for the vendor

For further information, please contact
  
Matthew Allen
Addington Capital
Tel: +44 (0) 207 042 9252
Email: matthew@addingtoncapital.com

Karen Roberts
PR Consultant
Tel: +44 (0)1628 521818
Email keroberts@btopenworld.com

Och-Ziff Investor Relations Contact:
Tina Madon
Managing Director
Head of Public Markets Investor Relations
+1-212-719-7381
tina.madon@ozcap.com

Och-Ziff Media Relations Contact:
Joe Snodgrass
Managing Director
Head of Corporate Communications
+1-212-887-4821
joseph.snodgrass@ozcap.com

Notes to Editors

About Och-Ziff
Och-Ziff is one of the largest institutional alternative asset managers in the world, with offices in New York, London, Hong Kong, Mumbai, Beijing, Dubai, Shanghai and Houston. Och-Ziff provides asset management services to investors globally through its multi-strategy funds, dedicated credit funds, including opportunistic credit funds and Institutional Credit Strategies products, real estate funds and other alternative investment vehicles. Och-Ziff seeks to generate consistent, positive, absolute returns across market cycles, with low volatility compared to the broader markets, and with an emphasis on preservation of capital. Och-Ziff’s funds invest across multiple strategies and geographies, consistent with the investment objectives of each fund. The global investment strategies Och-Ziff employs include convertible and derivative arbitrage, corporate credit, long/short equity special situations, merger arbitrage, private investments, real estate and structured credit. As of November 1, 2015, Och-Ziff had approximately $44.4 billion in assets under management. For more information, please visit Och-Ziff’s website (www.ozcap.com).

About Addington Capital
Addington Capital was set up in 2010 by Martin Roberts and Matthew Allen, as an independent asset management and investment business. Since inception Addington has completed over £500 million of deals by value and has an established platform in the office, retail and residential sectors. Addington has specialist teams for development opportunities and shopping centre.  Addington partners with capital that wishes to invest in the investment opportunities that it finds, and works closely with its partners to create value through active asset management. Please visit (www.addingtoncapital.com)

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