Kingston Properties (KPREIT) has expanded its international portfolio with the acquisition of its third property in the United Kingdom.
The company says it completed the purchase of the property, known as Lakeview East, on Christmas Eve.
The asset is a 17,000 square ft, Grade A office building located at Crossways Business Park in Dartford, just outside London.
KPREIT says the building has a strong energy performance rating, which aligns with the company's environmental, social and governance goals and its strategy of acquiring high-quality, sustainable assets.
The property is leased to a global shipping conglomerate that has been operating from the site since 2009.
Crossways Business Park is a major commercial hub with office, industrial and distribution facilities.
The acquisition was financed through a combination of debt and equity.
Following the transaction, KPREIT's geographic exposure now stands at 42 per cent in Jamaica, 39 per cent in the Cayman Islands, 16 per cent in the United Kingdom and three per cent in the United States.
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