LONDON-The ink is barely dry on the public documentation, but LondonMetric Property plc is hitting the ground running. The REIT, which is the result of last year's merger of London & Stamford Property Plc and Metric Property Investments plc, began trading on the London Stock Exchange this past Monday and just picked up 400,000 square feet of retail warehousing around the UK.
Cushman & Wakefield advised LondonMetric on its inaugural deal, which tallied out to $125.4 million (US), while Wilkinson Williams advised the clients of Aviva Investors. WW specializes in retail warehousing.
GlobeSt.com has put out a call for further information and will update this story as those interviews take shape. What we know to date about the deal, expected to close mid-February, is that all of the properties are located within 100 miles of London. They consist of Christchurch Retail Park in Christchurch, B&Q in Leicester, Dunstable Retail Park in Luton, Cairngorm Retail Park in Milton Keynes, Mountbatten Retail Park in Southampton and the B&Q/Halfords in Tonbridge. Lloyds Banking Group provided the debt.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
