F&C REIT has bought shopping centers in Barnsley and Middlesbrough from Capital and Regional’s Mall Fund, PropertyEU reports. The real estate investment trust has paid a total of £108 million for the acquisition. In the deal, the London-based F&C REIT is partnered with two new investors and existing clients Esas Holding (Turkey). The assets include the Alhambra Centre in Barnsley and the Cleveland Centre in Middlesbrough. The buyer and its clients were advised by chartered surveyor Franc Warwick and Olswang LLP on the sale process.
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