Metric Property Investments and British pension fund Universities Superannuation Scheme (USS) have jointly launched Metric Income Plus (Mipp) to buy small but high-yielding retail parks in the U.K, PropertyEU reports. The £150 million joint venture will focus on assets worth £2 million to £20 million.
Metric Property, a British retail Reit, has invested £25 million for a one-third equity share in the joint venture. USS has committed an initial £50 million to the new unit’s equity. USS is a pension scheme in the U.K. provided by universities, higher education and other associated institutions for their employees.
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Metric Income Plus British U.K Metric Property Investments U.K.