UK fund manager Hermes Real Estate has sold its Exeter retail park to private equity and real estate firm CIT for £42mln (EUR 53mln), reflecting a net initial yield of 6.19%. The park comprises 10 retail-warehouse units on a total of 10,600 m[sup]2[/sup] of space. Major tenants include Currys, McDonalds and Carphone Warehouse. Shoe retailer Brantano signed a 15-year lease at the beginning of the year.
Portuguese real estate investor and developer Bondstone is investing around €70 mln in a residential development in Belas Clube de Campo, municipality of Sintra, Portugal.
