Arlington Business Parks Partnership Fund (ABPP) has sold the Reading International Business Park to international clients of Rreef. The property is the European headquarters of U.S. telecommunications company Verizon Communications. The real estate has been let out to Verizon for 10 years.
The deal, which has been valued at more than £140 million, comprises phases I and II of the property. ABPP will retain the adjacent land for phase III of the park. The proceeds will be reused as part of an ongoing strategy to improve investor returns and help facilitate future commercial development opportunities.
Click here for the release from PR Newswire.
U.S. telecommunications company Verizon Communications Rreef ABPP PR Newswire