Land Securities Trillium (LST) has purchased a portfolio of 285 properties from postal authority Royal Mail for around £70 mln (EUR 103 mln). A total of 108 leasehold properties are vacant and LST will refurbish them with a view to securing new occupiers. The remaining 177 freehold properties will be leased back by LST to Royal Mail for 15 years, LST said Thursday in a press release.
Morgan Stanley spin-off, Proprium, made a 20-times multiple on its €65 mln equity investment in 2007 in Motel One.
