U.K. assets sold for £289m
In separate deals, two U.K. property portfolios have sold for £288.5 million ($454.2 million).
Schroder U.K. Real Estate Fund has acquired a portfolio of assets in Hammersmith from the Matterhorn Palos Partnership for £153 million ($239 million) in an off-market transaction.
The acquisition comprises the 340,000-square-foot Kings Mall Shopping Center, a 1,000-space parking garage, and One Lyric Square, an adjoining self-contained office building.
Kings Mall, which has undergone significant refurbishment during the past few years, houses more than 40 retail tenants, including H&M, Sainsburys, River Island and Primark, in addition to a range of restaurants and cafes.
One Lyric Square, which sits directly above the mall, is currently 100 percent leased. The sales price was €5.6 million ($8.5 million). It is one of the most significant office locations to the west of Central London, boasting a number of major corporations suc