15th Nov 2005 07:01
Capital & Regional plc15 November 2005 15 November 2005 CAPITAL & REGIONAL PLC ACQUIRES £96 MILLION TRADE PARK PORTFOLIO Capital & Regional plc, the co-investing property asset manager, has todayannounced its purchase of the T3 trade park portfolio from AXA and Warner Estate(Ashtenne) for £96 million, reflecting a net initial yield of 5.25%. Theportfolio comprises 23 trade parks located nationwide from Plymouth to Aberdeenand 10 Industrial Estates. Senior debt is being provided by Euro Hypo with the balance being provided fromCapital & Regional's own resources. Andrew Lewis-Pratt, Director of Capital & Regional plc, comments, "This purchase represents a unique opportunity for us to invest in a nicheretail based sector which is currently fragmented and unsophisticated. Ittherefore offers exciting opportunities for us to utilise our specialised skillsto maximise its potential". Notes to editors: About Capital & Regional plc Capital & Regional is the co-investing asset manager which specialises in towncentre shopping centres, out of town retail parks, and urban entertainmentcomplexes. Capital & Regional founded the Mall and Junction Funds in conjunction withMorley Fund Management. It also founded the X-Leisure fund with HermesInvestment Management Limited, and has a number of other joint ventures anddevelopments. Its shares are quoted on the London Stock Exchange. For further information see www.capreg.com - ENDS - For further information:Capital & RegionalMartin Barber, Chief Executive Tel. 020 7932 8101Andrew Lewis-Pratt Tel: 020 7932 8000 Redwood ConsultingLucy Close Tel: 020 7828 5553Kate Hewson Tel: 020 7828 5553 Hudson SandlerMichael Sandler Tel: 020 7796 4133James Benjamin Tel: 020 7796 4133 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Capital & Regional