A US-based private investment and asset management firm, focused specifically on the real estate industry, is embarking on a UK acquisition spree with nearly £400 million worth of deals.

Atlantic Property Partners is believed to be the favourite to buy a portfolio of £197 million worth of assets held across several of Invista Real Estate Management’s funds. This comes only a week after it acquired ING Real Estate’s 88 Wood Street building in the City of London for around £190 million.

Invista decided to sell its assets after receiving unsolicited approaches from a number of prospective buyers. The assets comprise 40 per cent retail, 40 per cent industrial and 20 per cent commercial properties. Most of the retail properties are on high streets in towns, such as Blackpool, Cheltenham and Southend.

Atlantic was formed last year, with backing from various US venture capital funds, to “capitalise on the superior risk-adjusted returns available from investment into property-related assets and companies in the United States and western Europe.”

It targets investment where there is a ‘value dislocation’ or an opportunity for asset management.

Atlantic’s decision to move into the City property market signals an interest from US investors in UK property.