LONDON-NewRiver Retail has purchased a portfolio of four freehold retail centers totaling approximately 502,500 square feet from Zurich Assurance Limited. The NewRiver group has signed an acquisition deal to purchase retail portfolio from Zurich Assurance for roughly GBP 68 million at an 8.0% yield.
The acquisition will be partly funded by a GBP 40-million equity fund at 525 pence per share. Key tenants in the shopping center assets include Boots, Poundland, The Co-operative and TK Maxx. For the full story, go to PropertyMall .
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