Invista Real Estate has cancelled its deal to sell a £190m portfolio to Atlantic Property Partners.
Atlantic, set up last year by two Americans, was frontrunner to buy the portfolio, known as ‘Sandpiper’ (Property Week, 22.08.08).
However, it is thought that the deal has now collapsed over price. Invista is still marketing the portfolio.
The deal is the second Atlantic deal to collapse in the last few weeks. The US group, led by Andrew McDaniel and Tim Yantz, was also under offer to buy ING Real Estate’s 88 Wood Street in the City of London.
The two deals would have marked Atlantic’s debut in the UK.
ING Real Estate is now in discussions with German fund manager SEB Asset Management to sell 88 Wood Street for around £180m.