21st Jul 2015 07:30
LONDON (Alliance News) - NewRiver Retail Ltd on Tuesday said it has completed the acquisition of three properties for a total of GBP121 million.
NewRiver has acquired The Ramsay Retail Warehouse Portfolio for GBP69.1 million, equating to a net initial yield of 8%.
It has also acquired the 50% stake it did not already own in the Trent JPUT portfolio, and acquired the 50% it did not already own in the Camel III JPUT portfolio of five shopping centres. The net initial yield on the Trent JPUT acquisition was 10.1%, while the yield on the Camel portfolio was 7.2%.
NewRiver shares were up 0.2% to 324.0399 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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