27th Mar 2018 09:59
LONDON (Alliance News) - Hansteen Holdings PLC said on Tuesday that it completed sale of its Industrial Multi Property Trust portfolio to Warehouse REIT PLC for GBP116.0 million.
Last Tuesday, Hansteen said it is considering the return of GBP145.0 million to shareholders, equivalent to 35.0 pence per share, as the group said it has limited oportunities to reinvest the resulting cash deposits in properties.
On February 5, Hansteen had agreed to sell off the Industrial Multi Property Trust portfolio to Warehouse REIT and in March started the process of selling the Saltley Business Park to the UK Secretary of State for Transport, receiving a payment of GBP39.9 million.
At the time of the acquisition, Hansteen reported the IMPT's portfolio was valued at GBP85.3 million at the end of 2016. By the end of March 2017, IMPT's portfolio was valued at GBP86.2 million.
The FTSE 250-listed property investment firm also said that it disposed a vacant property in Rousset, Marseille, to an owner occupier for EUR3.5 million, which was in line with valuation as at December 31.
After transaction, Hansteen Holdings said it now has one remaining property in France.
The stock was up 0.6% at 126.20 pence per share on Tuesday.
Related Shares:
HSTN.LWarehouse Reit
