Invista Foundation Property Trust, a closed-ended, Guernsey-registered property investment company, has appointed Schroders, a global asset management company, to take over the management, Financial Times reports. The board has given a termination notice to the existing manager Invista Real Estate Investment Management (IREIM).
Schroder Property Investment Management will now take charge of the administration of the £145 million trust subject to certain conditions being met, adds Investment Week. The agreement puts an end to a previous approach by Picton Property Income to combine the trust with its own assets.
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