Property fund manager Henderson has completed one of the largest property deals of the year with the £365m purchase of three shopping centres.
Henderson bought the three assets, Cheshire Oaks, Swindon and Bridgend from a consortium of investors including Morley Fund Management. To finance the deal Henderson raised £180m of equity and debt from German bank Bayerische Landesbank.
The deal represented a rental yield of just over 7%, reflecting the rapid decrease in capital values in the property market.
Daily Telegraph
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