New York-based asset manager Area Property Partners has bought 30% of the X- Leisure fund from Britain's largest pension fund, BT Pension Scheme and Hermes Real Estate for a price said to be around £65 mln (EUR 75 mln). X-Leisure was created by Capital & Regional and Hermes RE in 2004 and currently owns £528 mln worth of assets. It was the best-performing UK real estate fund last year, according to Investment Property Databank.
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