Learn more

By Rupert Hargreaves Property giant British Land announced this morning that it has acquired a portfolio of seven high-quality retail parks for £441m. The company said the deal would be funded from existing resources as well as an equity placing of approximately £300m, by way of an accelerated bookbuild offering. The group acquired the retail parks from Canadian investment giant Brookfield. They have a passing rent of £29.5m and a net initial yield of 6.7 per cent. The assets are 99 per cent occupied, and all “benefit from a major superstore anchor.” Assets include Elliott’s Field Shopping Par…

cuu