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