Transactions - OCTOBER 15, 2015

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Meyer Bergman buys U.K. development sites for £ 250m

by Andrea Waitrovich

Tesco has agreed to sell 14 Spenhill development sites in the United Kingdom for £250 million ($388 million) to a fund and clients advised by Meyer Bergman.

The sites, located in London, southeast England and Bath, are suitable for mixed-use and residential development. The sale marks further progress on Tesco’s strategic priority of protecting and strengthening its balance sheet.

Tesco and Meyer Bergman, a pan-European real estate investment manager, have reached completion on 11 sites, with the remaining sites due to complete in due course.

Separately, Meyer Bergman purchased a Norwegian retail portfolio from U.S.-based Madison International Realty and Norway-based Soylen Eiendom AS for $621 million. The portfolio totals more than 1.2 million square feet, spread across 11 assets in Oslo. 

The properties are concentrated around the prime shopping street of central Oslo, and include the famous shopping center Eger Karl Johan

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