15th Feb 2016 07:37
LONDON (Alliance News) - Property investor Hansteen Holdings PLC on Monday said it has bought another 5.5 million units in the Ashtenne Industrial Fund from clients of CBRE Investors for GBP2.5 million.
The purchase price reflects a price per unit in the fund of 46.06 pence, Hansteen said, and raises its stake in the fund to 82.8% overall.
The Ashtenne fund owns 12.0 million square feet of multi-let industrial properties in the UK.
"This additional unit purchase in AIF was a good opportunity to further increase our holding in the Fund and take our ownership to 82.8%," said Derek Heathwood, Hansteen's UK director.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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