10 Jul 2011
VBRi Acquires Arolla Property Holdings
10th July 2011 – VBRi, the property company managed by M7 Real Estate has acquired Arolla Property Holdings, a Guernsey based SPV that holds two Industrial Estates in Norwich, Meteor Close and Javelin Close.
Richard Croft, the CEO of M7 and said “This was a consensual acquisition from the shareholders of Arolla. The real estate is fundamentally good but requires some substantial capital investment and the shareholders of Arolla and its lending financial institution felt that we were more likely to be able to make that investment.”
Charles Alcock the partner at M7 who manages the industrial portfolio of VBRi will asset manage the assets.
Javelin and Meteor are VBRi’s second and third holdings in Norwich.