ING Real Estate has bought an eight-strong property portfolio for £125.5m and subsequently sold one asset

ING UK Real Estate Income Trust, a Guernsey-domiciled trust, which is listed in London, has bought the eight properties from Nivian Unit Trustees and Merbrook Unit Trust Investors.

The portfolio comprised a multi-let industrial estate, three office investments, three retail investments and a single-let distribution unit.

It has sold one asset: a small retail unit in Rugby for £4.6m, reflecting a net initial yield of 4.75%.

The portfolio acquisition was funded through the placing of 26.5 million shares by JP Morgan Cazenove, which equated to £32.2m with additional debt provided by JP Morgan.