Wereldhave, an Amsterdam-listed property firm, is buying Ealing Broadway shopping centre in West London from Legal & General Properties, PropertyEU reports. The €182 million deal will be completed by the middle of next month.
The transaction amount is indicative of a 6.5 percent net initial yield. CBRE Global Investors and U.K. real estate investment trust Land Securities were also interested in purchasing the property but lost out to Wereldhave in the race. Legal & General Property is a wholly owned subsidiary of Legal & General Investment Management and the third largest institutional property fund manager in the U.K.
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