Blackrock has bought CBXII in Milton Keynes.
The 150,000 mixed retail and office development reportedly changed hands for £35m.
This would reflect a net initial yield of 7%.
The vendor was Benson Elliot Real Estate Partners. They themselves bought the office property for just over £20m in 2010.
CBXII has been extensively refurbished by Benson Elliot who have upgraded the office space, common areas and retail space.
CBXII is now 80% let; tenants include: New Era, Pizza Express and Global Radio.
Blackrock was represented by Tudor Toone.
Benson Elliot was advised by Allsop.