28th Jun 2023 09:35
NewRiver REIT PLC - London-based real estate investment trust - Completes final disposals of properties owned by the Napier equal joint venture. Sells Kittybrewster retail park in Aberdeen and the Glendoe and Telford retail parks in Inverness to RI UK 1 Ltd for GBP62.6 million, with 50% due to NewRiver REIT. The sale price is slightly below the properties' gross asset value at March 31 of GBP64.4 million. Sale proceeds will go towards reducing NewRiver REIT's net debt. The disposals comprise the final properties in the Napier joint venture and bring total sale receipts to NewRiver REIT from the JV, including the earlier sales of properties in Dundee and the Isle of Wight, to GBP76.0 million. NewRiver REIT's partner in the JV is PAF Lux SCA, SICAV RAIF of Luxembourg. Read More
