20th Jan 2015 09:50
LONDON (Alliance News) - NewRiver Retail Ltd Tuesday said its portfolio of assets under management grew by 8.8% in the final three months of last year, the third quarter of its financial year, in what it described as a "highly active" period.
In a statement, the UK real estate investment trust said its portfolio stood at GBP800 million at the end of December 2014, up from GBP735 million at the end of September.
"During the period we executed our growth strategy by completing GBP30.3 million of acquisitions and submitted major planning applications, which if granted will enable us to deliver over 78,000 square feet of new development space," David Lockhart, chief executive, said in a statement.
"We look forward to the opportunities that 2015 presents, particularly following our most recent acquisition of a major UK shopping centre portfolio which promises exciting value-enhancing asset management and risk controlled development opportunities," Lockhart said.
The specialist real estate investor and asset manager earlier this month completed a GBP75 million equity fundraising, in a move to enable the acquisition of a shopping centre portfolio with assets across the UK.
NewRiver Retail shares were up 1.0% at 295.0 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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