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TORONTO, May 14, 2026 /CNW/ - Focus Industrial UK Corp. I (the "Fund") announced today that it has completed its previously announced acquisition of a portfolio of 11 multi-let industrial properties (the "Initial Portfolio") located in the United Kingdom ("UK") for an aggregate purchase price of £55,400,000, which was satisfied by way of cash from proceeds of the initial public offering of shares and concurrent private placement (the "Offering") and mortgages and other indebtedness on the properties comprising the Initial Portfolio.

The Fund indirectly acquired the Initial Portfolio which is located across established industrial regions in the UK, with concentrations in the Midlands, North West, North East and Scotland regions. The Initial Portfolio currently comprises approximately 491,283 square feet of gross leasable area and generates passing rent of approximately £3.4 million per annum across 169 units, providing meaningful income diversification with no single tenancy representing a disproportionate share of revenue. The Initial Portfolio is anchored by three larger assets—Lea Green Business Park in St Helens, Imex Business Centre in Edinburgh and Larch Lea Industrial Estate in Liverpool—which together account for approximately 53% of gross leasable area and 57% of passing rent. The Manager believes there is significant reversionary potential in the in-place rents as well as opportunity to drive further income growth through the lease-up of vacant units across the Initial Portfolio.

The Trust intends to use the balance of the net proceeds of the Offering, if any, for working capital purposes.

"The acquisition of the Initial Portfolio marks Clear Sky's first multi-let industrial purchase in the UK and is a testament to our conviction in the sector," said Iyngaran Muniandy, Chief Executive Officer of the Fund. "We are proud to continue supporting the small and medium-sized enterprises who are the backbone of the UK economy, and we look forward to growing the platform alongside our occupiers as the Fund scales."

Clear Sky Capital Inc. (the "Canadian Manager"), an affiliate of Clear Sky Capital, Inc. (the "UK Manager", and together with the Canadian Manager, the "Manager"), is the manager and promoter of the Fund. Since its inception in 2009 and through 2025, the UK Manager and its affiliates have acquired or developed approximately US$1.73 billion of real estate and operating asset investments in the United States and the United Kingdom. Investments have been executed through multiple investment vehicles and funded primarily by U.S. and Canadian retail and institutional investors. Over this period, the platform has invested approximately US$644 million towards 134 real estate transactions diversified across its core sectors.

Forward-looking Statements

This news release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the Fund and the Manager regarding future events, including statements concerning: the potential of the Initial Portfolio to drive further income growth and the anticipated use of the remaining net proceeds of the Offering, if any. In some cases, forward-looking statements can be identified by terms such as "may", "might", "will", "could", "should", "would", "occur", "expect", "plan", "anticipate", "believe", "intend", "seek", "aim", "estimate", "target", "project", "predict", "forecast", "potential", "continue", "likely", "schedule", or the negative thereof or other similar expressions concerning matters that are not historical facts.

Material factors and assumptions used by management of the Fund to develop the forward-looking information include, but are not limited to, the Fund's current expectations about: vacancy and rental growth rates in the UK MLI market; demographic trends in the UK; the realization of property value appreciation and timing thereof; the inventory of MLI properties; the availability of MLI properties for acquisition (other than the Properties comprising the Initial Portfolio) and the price at which such properties may be acquired; the price at which Properties may be disposed and the timing thereof; closing and other transaction costs in connection with the acquisition and disposition of Properties; the availability of mortgage financing and current interest rates; the capital structure of the Fund; the extent of competition for MLI properties; assumptions about the markets in which the Fund intends to operate; expenditures and fees in connection with the maintenance, operation and administration of the Properties; the ability of the Manager to manage and operate the Properties; the global and UK economic environment, including changes in interest rates and the rate of inflation; the impact of negative geopolitical events; foreign currency exchange rates; and governmental regulations or tax laws. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Although the Manager believes that the expectations reflected in such forward-looking statements are reasonable and represent the Fund's internal projections, expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Fund's control, may affect the operations, performance and results of the Fund, and could cause actual results in future periods to differ materially from current expectations of estimated or anticipated events or results expressed or implied by such forward-looking statements. Such factors include the risks identified in the final prospectus, including under the heading "Risk Factors" therein. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the Fund undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

SOURCE Focus Industrial UK Corp. I