Heitman LLC, a global real estate investment firm, in collaboration with Addington Capital, a UK-based investment and property asset management business, has announced the acquisition of two adjoining freehold residential blocks in London’s West End. The properties, known as 61-130 Miles Buildings, are located in Marylebone and were purchased as part of Heitman’s global core-plus investment strategy.

The two residential buildings consist of 70 units, primarily one-bedroom apartments, and cover approximately 28,000 square feet of living space across five floors. These properties are located in a rapidly developing area of Zone 1 London, offering easy access to four Underground train lines within a two-minute walk.

Caleb Mercer, Heitman’s Managing Director of European Real Estate Investment, expressed confidence in London’s long-term demographic outlook, supply constraints, diversified economy, and recovering demand post-pandemic. He stated that well-located residential properties present a compelling investment opportunity. The acquisition of the Miles Buildings reflects Heitman’s continued confidence in the UK and Europe’s alternative real estate sectors, particularly the living sectors (rented-residential, senior housing, and student housing), which continue to deliver resilient cash flows and demand driven by demographics, despite current economic volatility.