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Transactions - AUGUST 11, 2014

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Hermes sells three U.K. assets for £430m

by Andrea Waitrovich

Hermes Real Estate has exchanged on the sale of three MEPC mixed-use parks located across the United Kingdom for £430 million ($721.8 million) at an initial yield of 7.3 percent.

Funds managed by Oaktree Capital Management and PATRIZIA Immobilien will take ownership of the three parks: Chineham Park in Basingstoke, England; Birchwood Park in Warrington, England; and Hillington Park in Glasgow.

Hermes Real Estate was represented by JLL, while Strutt & Parker and Ryden acted on behalf of Oaktree and PATRIZIA.

The 1.13 million-square-foot Birchwood Pa

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