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Sign in Sign up for a FREE subscriptionRegional REIT acquires €275m regional office portfolio
Regional REIT Ltd., a U.K. regional office specialist, has acquired a major portfolio of 31 high-quality, predominantly multitenant office assets from Squarestone Growth, for a consideration price of £236 million (€275 million/$325 million).
The portfolio comprises 27 office assets providing more than 1.6 million square feet for 192 tenants; two industrial units (120,020 square feet) with three tenants; a residential asset with 12 tenants (10,672 square feet); and a Tim Horton’s Drive-Thru restaurant (2,010 square feet) for a single tenant.
“This is a major milestone for the company, the scale and diversity added to the company’s portfolio through this transaction will be accretive for all shareholders,” said Stephen Inglis, CEO of London & Scottish Property Investment Management, the asset manager of Regional REIT.
