ING UK Real Estate is to acquire a £125.5m property portfolio from US fund Nivian Unit Trustees

The acquisition, which was announced this morning, includes three offices, three retail properties, a distribution warehouse and a multi-let industrial estate. The purchase price reflects a yield of 5.7%.

The portfolio generates an annual rent of £7.2m. It includes properties in Bracknell, Bristol and Carlisle.

ING chairman Nick Thompson said the strategy behind the transaction was to enable the trust to focus on the office and industrial sectors.

‘The transaction is structured in such a way that provides ongoing debt flexibility for the trust,' he added.