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TRADING UPDATES: Supermarket REIT Ups Stake In Sainsbury s Portfolio
Thu, 18th Feb 2021 12:15
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
Supermarket Income REIT PLC - real estate investment trust dedicated to investing in supermarket property - Doubles stake in UK s portfolios of Sainsbury s supermarket properties from an Aviva Investors managed fund. Stake in the portfolio upped to 51% from 25.5%. The 25.5% interest has been acquired through the company s existing 50-50 joint venture with British Airways Pension Trustees Ltd. The purchase price is GBP115.0 million, meaning the company s contribution to the JV to fund the acquisition is GBP57.5 million. The JV acquired its initial 25.5% interest from British Land PLC in May last year. Following this second acquisition, the JV s ownership in the portfolio is 51%. The remaining 49% beneficial interest is held by J Sainsbury PLC